Hockey to set Super rates?

Discussion in 'Superannuation' started by JulieW, Sep 1, 2014.

  1. tozak

    tozak Well-Known Member Silver Stacker

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    Superannuation is a Tax, we would all be better off if Super was set to 0%

    For an employer to pay Super it forms part of the Salary they would otherwise pay directly to the employee, so if Super is 9% then you get 91% of the rest of your payment they can afford to pay you in the form of a wage. If Super is 12% then you only get 88% as a wage instead of 91%, If Super was 20% then your wage is only 80%. However if Super was 0% then you would get 100% in the form of a wage.

    Why Super is a form of Taxation is to do with control, when you get your Wage you get some and the government takes some via income tax, you can do what you want with your portion (unless your married) but you have no control of what the government does with the taxed portion. Same as Super, yes you can have the illusion of control with a SMSF but ultimately the government still control it. They decided when you access it, how you access it, how it's audited, how it's regulated... There is nothing to stop them from saying for your own financial safety it's now a requirement all Super funds put 10% into Australian government bonds... next year 20% then 50% then 100% forcing you out of any other investments you have chosen ... and then what, you can't touch it till age 80 and it will be paid out as a pension and offset by the potential for you to reverse mortgage your assets during retirement.

    Super is the same as Taxation, you don't own it since you ultimately you don't control it and the higher the rate then the less your take home pay will be. Employers are not magically making 4% more in profits if Super is raised by 4% however your relative take home pay inflation adjusted will go down 4% and with no guarantee you will ever get control of that portion.
     
  2. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Tozak does that mean that when, as a business owner you look up the award wage for a particular job you are allowed to pay the employee 9.5% less than the award each week?
     
  3. renovator

    renovator Well-Known Member

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    Looks like your employees are in for a pay cut next week ?:lol:
     
  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I wouldn't dare. I want to pay them more, not less.
     
  5. tozak

    tozak Well-Known Member Silver Stacker

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    No.

    Also I would take it at a guess that majority of Australian workers would be getting paid above award, especially in skilled sectors. Awards are another separate problem but even award wages don't move up inline with real inflation nor does the Tax bracket slippage do any favors for award wages. Point is employers only have a certain amount as a percentage of profits they can allocated towards paying their employee's and any Super rises will eat into future potential pay rises, meaning more of the employee's pay will go into an area that the government has the discretion on and not the employee.
     
  6. nonrecourse

    nonrecourse Well-Known Member

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    I'll play devils advocate and say that no matter what structure if you have a government intent on impoverishing a section of the community just think Jews and Nazi Germany in the 1930's. That is why it is so important for you to be ever vigilant vocal through contact with law makers and public forums.

    Kind Regards
    non recourse
     
  7. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    [​IMG]
     
  8. nonrecourse

    nonrecourse Well-Known Member

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    Considering 2.5% 0f the worlds population thats 60 million people died you have a problem with that you moron :eek:
     
  9. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    I take it you are not familiar with Godwin's Law. This is a thread about Joe Hockey and superannuation contributions, and it only took till post #26 for someone to reference the Nazis.
     
  10. nonrecourse

    nonrecourse Well-Known Member

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  11. nonrecourse

    nonrecourse Well-Known Member

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    You obviously are not familiar with history so therefore your doomed to repeat it. I grew up with parents who lived through that terrible time and saw many of their loved ones pay the ultimate price.

    The price for not speaking out when there are injustices imposed by government is eternal suffering. Think about it.

    I spend a considerable amount of time reminding politicians and our civil service that they too have to comply with the letter of the law.

    Kind Regards
    non recourse
     
  12. smk762

    smk762 Active Member Silver Stacker

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    History is already being repeated in the middle east. Plenty of eternal suffering in the occupied territories (OT).

    Infant mortality rate (under 1yr per 1,000 live births)
    OT -20.6 (at 2010)
    Israel - 3 (at 2012)
    Australia - 4 (at 2012)

    Child mortality rate (under 5yrs per 1,000 live births, 2010)
    OT -25.1
    Israel - 5
    Australia - 5

    Maternal mortality rate (per 100,000 live birth) 28 (at 2011) 2 (at 2013) 6 (at 2013)
    OT -28
    Israel - 2
    Australia - 6

    And that's without mentioning bombs and bullets.
     

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