Bill Shorten lies about super

[sprintcyclist]

https://www.thecourier.com.au/story/606 ... /?cs=10224

Shorten admits superannuation mistake


Bill Shorten has been forced to admit he made a mistake when he ruled out Labor making any changes to superannuation concessions.

The opposition leader said he thought he was being asked on Tuesday about further plans to change superannuation, beyond Labor's existing pledge to reduce tax concessions for super contributions.

"I thought I was being asked about 'have we got any unannounced changes to superannuation'," Mr Shorten told reporters on Wednesday.

"But obviously we have changes which we outlined three years ago, so I should have picked the words better, no question.

"We have no proposals other than what we've announced previously."

Under Labor's proposed changes,
more than one million Australians could pay more tax on their super contributions.

Quite reasonable, he misunderstood the question

[billy the kid]

I see that bullshit bill is talking about reducing the compulsory superannuation levy threshold back to nil over a period of four years.
This means, in a nutshell, employers will have to start paying the compulsory superannuation levy for all employees from dollar one.
Can Australian businesses afford this...
I would have thought that the simple way to stimulate the economy would be to go the other way and create a new threshold of say $2000 per month, rather than the current threshold of $450 per month.
This is just another tax on businesses which is not affordable.
And at the same time bullshit bill is talking about increasing basic wages....two rises..one a tax on employers, and one an increase in basic wages .....
The CSL increase (in the rate of payment) at the moment has been prudently shelved by the coalition to 2025, which suggests to me that they realize that the CSL at the moment is not working, and cannot be increased as Keating envisaged when he enacted it.
Its all very well to say that employees should provide for their retirement, but not at the expense of their employers.
Superannuation should not be seen as something for nothing, provided by the boss, simply because legislation demands
him to provide it. Superannuation security should be provided by the employee for the employee, and if people havent got the
brains to provide for their own retirement, then they have to be educated to do so.
Its not hard.
This is just a grab for the female vote, and women should be smart enough to see it for what it is.
Even today, the grab for the female vote is surfacing within Labours election campaign suggesting also that the CSL will
also be included in certain paid parental leave schemes.
Labor is getting desperate....I smell a coalition victory....

[Bobby]

I see that bullshit bill is talking about reducing the compulsory superannuation levy threshold back to nil over a period of four years.
This means, in a nutshell, employers will have to start paying the compulsory superannuation levy for all employees from dollar one.
Can Australian businesses afford this...
I would have thought that the simple way to stimulate the economy would be to go the other way and create a new threshold of say $2000 per month, rather than the current threshold of $450 per month.
This is just another tax on businesses which is not affordable.
And at the same time bullshit bill is talking about increasing basic wages....two rises..one a tax on employers, and one an increase in basic wages .....
The CSL increase (in the rate of payment) at the moment has been prudently shelved by the coalition to 2025, which suggests to me that they realize that the CSL at the moment is not working, and cannot be increased as Keating envisaged when he enacted it.
Its all very well to say that employees should provide for their retirement, but not at the expense of their employers.
Superannuation should not be seen as something for nothing, provided by the boss, simply because legislation demands
him to provide it. Superannuation security should be provided by the employee for the employee, and if people havent got the
brains to provide for their own retirement, then they have to be educated to do so.
Its not hard.
This is just a grab for the female vote, and women should be smart enough to see it for what it is.
Even today, the grab for the female vote is surfacing within Labours election campaign suggesting also that the CSL will
also be included in certain paid parental leave schemes.
Labor is getting desperate....I smell a coalition victory....

Hi Billy,
I think the Govt. is in such deep shit over money that they are looking
for any way to rob people.
With over $2 trillion put away in super they see it as a piggy bank for them.
What will eventually happen is that they will withdraw your pension entitlement until you’ve spent all your super.
They will tell you to sell your house & get a one bedroom flat & live off the change
then come back when you’re broke and apply for the pension.
Then – when that is not enough - they will actually just rob the super money –
and replace what they’ve taken with Govt. bonds that you can redeem at so much per week –
a slight of hand trick to get at your money.
They will stop people taking lump sums out.
You will only be able to get a small amount per week.

I see Bill Shorten’s $34 billion grab as only the start of a grand theft.
If he gets away with it – then the game is over.
It’s better to get your money out and bank it overseas out of their grubby hands while you still can –
although they would know that and use it as an excuse to not pay you the pension –
so you can’t win.

[Black Orchid]

Start your own super portfolio.

[Bobby]

Start your own super portfolio.

That won't prevent the robbery.
In any case you need at least $500K to make it worthwhile
plus some expertise.
I have neither.

[Black Orchid]

Start your own super portfolio.

That won't prevent the robbery.
In any case you need at least $500K to make it worthwhile
plus some expertise.
I have neither.

I don't think there is a required minimum. $200,000 is a suggested guide but it's still only a guide.

[billy the kid]

Start your own super portfolio.

This is where it gets even more complicated....if you buy various parcels of shares, and chose
to sell them at some stage..at a higher price of course...how much capital gains tax do you have to pay
on the profit you have gained...should you have to pay tax if you buy and sell on the same day...isnt that
a gamble....do you become a day trader or an investor...remembering you cant create an income stream...
this is where the government has everyone by the short and curlies...how can the average punter maintain
his own portfolio with the necessary vigilance and diligence, whilst going to work every day, and being
unable to observe stock market prices during the day.......super trustees generally buy shares and simply hold
them until the year dot, hoping and believing that they will go up an average of say 7% to 10%..or more, before
the superannuant retires....of course if they go down...well, so does your balance...how long does the average
punter need to be in the stock market for the balance to recover....would you like to be in the stock market, holding
various shares at say the age of 60...not a lot of time left to recover from a crash if youre planning on retiring soon....
I know Ive suggested DIY super in the past, but I didnt say it would be easy....it doesnt suit everyone...
It depends I suppose on how well you want to sleep at night......

[billy the kid]

Start your own super portfolio.

That won't prevent the robbery.
In any case you need at least $500K to make it worthwhile
plus some expertise.
I have neither.

I don't think there is a required minimum. $200,000 is a suggested guide but it's still only a guide.

A mate of my sons started his by transferring 20K..being the total balance from Qsuper..into his DIY fund...

[Black Orchid]

Yes it's not for everyone but if people are freaking out about their super being taken, with the right advice behind you, it's an alternative that you have more control over.

[Bobby]

Start your own super portfolio.

That won't prevent the robbery.
In any case you need at least $500K to make it worthwhile
plus some expertise.
I have neither.

I don't think there is a required minimum. $200,000 is a suggested guide but it's still only a guide.

BO,
the auditing fees for a SMSF are at least $1,700 per annum.
That's not the only cost.