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watt price tully
Joined: 15 May 2007
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watt price tully
Joined: 15 May 2007
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Scott Morrison seems to have lied allegedly (I know, we’re all shocked again) about his multiple secret cabinet positions/portfolios.
FOI released documents have revealed ulterior motives for at least two positions as treasurer and home affairs.
Remember in a self serving defence Scotty told “us” he has to do this because of the pandemic and needed a contingency plan should any of the ministers go down with COVID. Seems this was not the case:
https://www.theguardian.com/australia-news/2022/dec/13/scott-morrison-wanted-foreign-investment-and-citizenship-loss-powers-in-secret-ministries-email-suggests
Everything I’ve said about him has proven to be true. He was sooo bloody lucky that Clive Palmer was a player in 2018. Scotty’s chickens are coming home to roost. _________________ “I even went as far as becoming a Southern Baptist until I realised they didn’t keep ‘em under long enough” Kinky Friedman |
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watt price tully
Joined: 15 May 2007
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What'sinaname
Joined: 29 May 2010 Location: Living rent free
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Another broken promise by AnAl
First it was reducing power bills. And now he’s changing super.
Can anyone really trust anything AnAl says? _________________ Fighting against the objectification of woman. |
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stui magpie
Prepare for the worst, hope for the best.
Joined: 03 May 2005 Location: In flagrante delicto
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Labor has always been money hungry, rasing taxes to fund their programs.
I don't have a problem with the proposal to increase taxes on super funds over $3M from 15% to 30%, but ideally they wouldn't make it effective on current funds only from now on. People invested money in good faith based on the rules at the time.
I'd be more concerned about the Fwit treasurer wanting to "encourage" super funds to invest in government programs. Super funds should exist to maximise ROI for their members, not fund Government programs. _________________ Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
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David
to wish impossible things
Joined: 27 Jul 2003 Location: the edge of the deep green sea
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David
to wish impossible things
Joined: 27 Jul 2003 Location: the edge of the deep green sea
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stui magpie wrote: | Labor has always been money hungry, rasing taxes to fund their programs.
I don't have a problem with the proposal to increase taxes on super funds over $3M from 15% to 30%, but ideally they wouldn't make it effective on current funds only from now on. People invested money in good faith based on the rules at the time.
I'd be more concerned about the Fwit treasurer wanting to "encourage" super funds to invest in government programs. Super funds should exist to maximise ROI for their members, not fund Government programs. |
Over how much? I haven’t been following this, but … good lord, my heart bleeds for them.
Why were these people getting any tax breaks in the first place? _________________ "Every time we witness an injustice and do not act, we train our character to be passive in its presence." – Julian Assange |
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What'sinaname
Joined: 29 May 2010 Location: Living rent free
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^ the point is missed. It’s about Labor failure to keep its promises but also a government looking at that big pool of money that isn’t theirs and thinking, “how do we get some of that”
And why penalize people who have worked hard and put money away to retire. They are safely financially independent and will not need Government support. _________________ Fighting against the objectification of woman. |
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watt price tully
Joined: 15 May 2007
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What'sinaname wrote: | Another broken promise by AnAl
First it was reducing power bills. And now he’s changing super.
Can anyone really trust anything AnAl says? |
Don’t be ridiculous. This is to be voted on in the next election. As usual
The ALP has to clean up the economic mess left by the liberal party. The worst debt by any government in Australia ever. In fact at least two Liberals support the idea of taxing those with over 3 million. Super is for retirement. However Costello the cnut allowed millionaires and billionaires to tax avoidance by opening it up to his wealthy mates to avoid paying their share of tax.
This is sensible reform wait for it…..to be voted on in the next election.
Stop reading the Murdoch press; it rots your brain! _________________ “I even went as far as becoming a Southern Baptist until I realised they didn’t keep ‘em under long enough” Kinky Friedman |
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doriswilgus
Joined: 16 Jun 2005 Location: the great southern land
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What'sinaname wrote: | ^ the point is missed. It’s about Labor failure to keep its promises but also a government looking at that big pool of money that isn’t theirs and thinking, “how do we get some of that”
And why penalize people who have worked hard and put money away to retire. They are safely financially independent and will not need Government support. |
The changes mean that people will be taxed at 15% for up to 3 million in super then anything above that they will be taxed at 30%,which is actually below the income taxes they currently pay.It’s still a great deal for high income earners and it’s not going to make them rely on government support as you claim. |
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What'sinaname
Joined: 29 May 2010 Location: Living rent free
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^ it doesn’t matter. The fact that they are making changes is a broken election promise.
It took AnAl to hose down Chalmers dumpster fire interview with Koch when he flat out refused to rule out removing CGT on the family home. |
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David
to wish impossible things
Joined: 27 Jul 2003 Location: the edge of the deep green sea
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I hate that Labor have dug themselves into such a hole on that one. Obviously they made a decision to go to the election on that policy and are now stuck with it, but CGT and negative gearing absolutely need to be in the gun. Undoubtedly most ALP politicians realise that, so it's frustrating that (at least, in the view of the brains trust in charge of the party) doing something about them is seen as politically impossible. _________________ "Every time we witness an injustice and do not act, we train our character to be passive in its presence." – Julian Assange |
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Dark Beanie
Joined: 06 Feb 2004 Location: A galaxy far, far away.
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Most people with balances over 3 million will be in contact with their accountant/financial adviser to work out how to get around the changes or seek other ways to minimise their tax.
As far as the govt. breaking an election promise, quelle surprise.
Each government federal or state, liberal or labor has done it and will continue to do it. May not be right but thats the way it is. _________________ If you are foolish enough to be contented, don't show it, but just grumble with the rest. - Jerome K Jerome |
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stui magpie
Prepare for the worst, hope for the best.
Joined: 03 May 2005 Location: In flagrante delicto
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Considering there's a contributions cap of a bit over $25k pa, which includes employer contributions, the only wage earners who I can see getting a balance over $3M would be Surgeons/Anesthetists, Lawyers, CEO's and those with self managed super funds who struck it lucky with some property investments.
Agree with DB that those who have those balances will already be in touch with their accountant, but provided the extra 15% only applies to the portion over $3m, their options may be limited to stop putting money there and invest it eslewhere.
Fair enough of Albanese to take it to the next election rather than implement now, but the language they're using has potential to allow for a scare campaign on what's next? CGT on the family home? Back to the Franking Credits?
The other thing that has been noted is that the $3M cap isn't going to be indexed at this stage, so over time that very small number of people impacted would potentially become bigger and bigger. _________________ Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
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What'sinaname
Joined: 29 May 2010 Location: Living rent free
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24 hours and we learn the facts behind the is new super increase are wrong. What a shock that more people will be affected than claimed _________________ Fighting against the objectification of woman. |
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