Christopher Pyne is a Liberal...perhaps the ALP will run out of leadership contenders to knife or exile and put in a Liberal by mistake. Ah, in a perfect world.
Swan has released a media statement: http://www.alp.org.au/federal-government/news/a-fairer-superannuation-system/ Can anyone explain how on earth someone earning more than 100K get's more government assistance than someone on the pension? It's that spurious argument about tax concessions again isn't it? Of course by the time the majority here retire, there's every chance that the income received from superannuation investments will be above the threshold - my congratulations and commiserations to all here who had the financial foresight to decide to manage their own retirement affairs - as a reward for your independence and intelligence, cop the 15% tax from the Feds.
It's a new tax, pure and simple. They're trying to pull the "us not taxing you means we have a cost" bollocks. Philosophically Swanny is saying that every single dollar we earn is first and foremost the property of the Government and whatever it chooses to let us retain is a benevolent "tax concession". A 100% income tax is the only scenario where his so-called "government assistance" through tax concessions/expenditures are zero. His socialist outlook is shining through.
We really dont need socialist perspectives on anything! We already get more than enough of that shit from our illegitimate government...
This has got to be one of the dumbest/ most fictitious comments I have seen on SS of late! Shocking that it comes from somebody whose comments I ordinarily respect...
This is basically the first tax on the pensions phase of superannuation, correct? Now there is one tax, expect many. For 'fairness'. In 30-40 years when I retire, due to a combination of inflation and shrewd investing, everyone reading this will most likely be hit by this new tax. And of course over the course of the next 20 years expect the earnings above $100,000 figure to come down 'progressively' to $90,000 then $80,000. And a 10% or 5% tax on earnings above say $50,000 Why? Because they can. This new pensions phase tax is just a precursor to a whole raft of pensions phase taxes. I'm very disappointed in these government thieves.
It will be interesting to see whether Abbott will wind these changes back ... ? Taxing pension earnings of those over 60 is something which the Coalition supposedly vehemently opposes! Talk is cheap! They'd better overturn this retarded Labor "reform" along with the Carbon and Mining taxes or risk losing all credibility!!!
But they almost never do. They keep marching on leaving a trail of bull#@%t laws that their banker bosses have told them to implement.
A Farm has many areas where cash sales can occur.Obviously these sales would be included in your Income .
It becomes bleedingly obvious when you hear statements like this that Swan and the rest of his socialist cronies view 100% of your hard labour, your calculated risk taking, your return on making this country advance to the level it has to this day, as their own property. What they ALLOW you to keep for yourself is a concession. So again on the same track I was playing Big A.D. earlier, Swan looks at super earnings by one part of society and how much he lets them keep as costing his government more in revenue (than if he didn't let them keep as much) than it does paying for pensions. It's tyranny to let anyone with such a mindset in power.
Cyprus: 100.000.00 and you are robbed of your savings. Australia: $100,000.00 and you are robbed of your savings. Who'd have thought that the Cyprus model would be applied next in line to Australia by stealth? Oh, yeah - Gillard admires what the IMF did to the citizens of Cyprus.
