Reminder about co-contribution

Discussion in 'Superannuation' started by nonrecourse, Jun 4, 2012.

  1. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,487
    Likes Received:
    107
    Trophy Points:
    63
    Location:
    Melbourne Australia
    This is the last year you, your spouse and children can take advantage of the co-contribution where if you each earn under $37,000 or on a sliding scale to $62,000 if you each put an undeducted contribution of $1000 the government will match it. Initially when the Liberals were in they "gave" you $1500, the first thing Kevin 07 did was to reduce that to $1000 and delayed indexation that would have increased the co-contribution each year.

    Of course subsequent tax years the hard labour mob did not restore that indexation.

    This year Ju-liar's black Swan budget stole from the poor to give to her labour thugs by further reducing the co-contribution (they say $500 but with the cavets its really $250).

    If you have an SMSF your mad not to put 2 children in if you have kids as $1000 + $1000 plus co-contribution equals almost 3 ounces of gold bullion. What a way to start your kids super off. Think and grow rich

    Kind Regards
    non recourse
     
  2. boston

    boston Well-Known Member Silver Stacker

    Joined:
    Jul 7, 2009
    Messages:
    3,857
    Likes Received:
    24
    Trophy Points:
    48
    Location:
    Australia
    Is this the super that we think we are all going to get?

    I am not a betting man, but I would be very surprised if today's 20 year old, gets to reap the rewards of their superannuation sacrifices.
     
  3. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,487
    Likes Received:
    107
    Trophy Points:
    63
    Location:
    Melbourne Australia
    I don't have a crystal ball but I also have three investment pillars so that if the gubermint thugs steal pillar a there is still pillars b & C. If you want to retire on the gubermint pension to a fare of dog food be my guest:lol:

    Kind Regards
    non recourse
     
  4. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,487
    Likes Received:
    107
    Trophy Points:
    63
    Location:
    Melbourne Australia
    Either you made your dough and are gainfully unemployed or you are a cheech & chong hippy and can live off of the smell of an oily rag:D

    http://www.youtube.com/watch?v=iTY6HTJoEkM
     
  5. doomsday surprise

    doomsday surprise Well-Known Member Silver Stacker

    Joined:
    Dec 15, 2011
    Messages:
    1,291
    Likes Received:
    30
    Trophy Points:
    48
    Location:
    El Dorado
    When the whole fiat pozi scheme comes crashing down super will be worthless. No chance in hell of me putting extra money into my super. Much better off spending the extra cash on PM's.
     
  6. Scorpion75

    Scorpion75 New Member

    Joined:
    Sep 8, 2011
    Messages:
    387
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Western Australia
    I've been in cash for 4 yrs and recently changed to global fixed interest. Already up on my super by 6.5%-7% for the financial year. Pretty good return really so I'd s/sacrifice into mine for sure.


    Scorp
     
  7. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,487
    Likes Received:
    107
    Trophy Points:
    63
    Location:
    Melbourne Australia
    If your in an SMSF with co-contribution some in bullion its win/win
     
  8. boston

    boston Well-Known Member Silver Stacker

    Joined:
    Jul 7, 2009
    Messages:
    3,857
    Likes Received:
    24
    Trophy Points:
    48
    Location:
    Australia
  9. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2010
    Messages:
    8,298
    Likes Received:
    7,657
    Trophy Points:
    113
    Location:
    House Corrino
    I would never eat dog food. Whiskas on Jatz would be much nicer.
     

Share This Page