Abbott in Government

[medhead]

So I have misunderstood. Apologies. Now instead of 2023 I need to wait until 2024 to get the full benefit of the fruits of my labour.

I have had enough of work. I am very tired and need ~12-18 months off and then reconsider my decision. The only benefit of working now is travelling to Thailand regularly and keeping myself away from my savings. Although the need to travel to Thailand may change in the near future.

Apology accepted. Shame you can't listen the first time when people correct your mistakes. What other mistakes are there, I wonder?

 

[Pushka]

I know what you mean JohnK. You reach an age when you just need a 3 month break. That used to be long service leave but people change jobs so that never accumulates. Or you have your own business and you just can't take that long a break.

 

[Pukka]

Re: Oz Federal Election 2013 - Discussion and Comments

You seriously have trouble with thought puzzles don't you? Did you miss the reference to Dickensian society, where the poor got nothing unless they took it. That is the proposal that I was addressing. There are no jobs, take many areas in Australia with 20%+ youth unemployment.

I sure as ****e did not suggest it was ok to go on the rob. Simply acknowledging the fact that giving people, poor people welfare reduces crime. The fact that you think I did contrary to the context of the in going series of posts (that stuff about building gaols and such) demonstrates why there if absolutely no point read your posts. Your suggestion that I condone crime is insulting and ludicrous for completely missing the point.

In any case, without a safety net for the poor it becomes a choice between staving or going on the rob,

Well that sounds like an endorsement of crime to me because that's a choice between hungry law abiding citizen and criminal.

But like I've said I am happy to support those less fortunate than me I just don't want them to lose the incentive to do a bit of work now and again.

 

[Pukka]

Re: Oz Federal Election 2013 - Discussion and Comments

In any case, without a safety net for the poor it becomes a choice between staving or going on the rob,

Well that sounds like an endorsement of crime to me because that's a choice between hungry law abiding citizen and criminal.

But like I've said I am happy to support those less fortunate than me I just don't want them to lose the incentive to do a bit of work now and again.

And yes I haven't worked out how to "quote properly" on the iPhone yet before you criticize

 

[drsmithy]

Re: Oz Federal Election 2013 - Discussion and Comments

I'm not condoning crime but what if there aren't any jobs?

In the neoliberal religion, having more people than jobs is actually a specific objective, because it suppresses wages. Full employment is considered a catastrophe, because it means labour has leverage over capital, which is pretty much the worst scenario imaginable (same reason they hate unions).

The hypocrisy of complaining about the "bludgers" who can't find work in a system specifically designed to keep some percentage of people out of work, seems to be lost on them.

 

[drsmithy]

Re: Oz Federal Election 2013 - Discussion and Comments

Well then the people in a job have to support those without a job but it needs to be at a basic level.

It IS at a basic level. Heck, it's not even AT a basic level - it's been trailing inflation for years, if not decades.

Try living on the equivalent of a dole payment for a month. Bet you can't even make it a week.

 

[Pukka]

Re: Oz Federal Election 2013 - Discussion and Comments

In the neoliberal religion, having more people than jobs is actually a specific objective, because it suppresses wages. Full employment is considered a catastrophe, because it means labour has leverage over capital, which is pretty much the worst scenario imaginable.

The hypocrisy of complaining about the "bludgers" who can't find work in a system specifically designed to keep some percentage of people out of work, seems to be lost on them.

That really is the biggest load of tripe you have ever spouted but thanks for your input

 

[Austman]

Re: Oz Federal Election 2013 - Discussion and Comments

Preservation age is only the age you can access super. It has nothing to do with getting it tax free. Everyone has I wait until 60 to withdraw super tax free. Take it out at 59 and you have to pay tax.

Only on amounts above the amount above the low rate threshold which does not include any tax-free portion.

https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/tax-and-super

Lump sum withdrawals

If you are aged 60 or over any withdrawals from a taxed super fund are tax-free. Different rates may apply to untaxed funds, such as government super funds.

If you access your super before age 60 you may pay tax on withdrawals. You can withdraw up to the low rate threshold, currently $180,000, tax-free. This is a lifetime limit and is indexed annually. The threshold does not include the tax-free portion of your super account, which will be returned to you tax-free. Any amounts over the low rate threshold will be taxed at 16.5% (including Medicare Levy).

 

[amaroo]

Re: Oz Federal Election 2013 - Discussion and Comments

Ok I've sobered up after the Melbourne cup but guess what I'm still a giver not a taker.

Must have been a big day......enjoy dinner?

 

[Pukka]

Re: Oz Federal Election 2013 - Discussion and Comments

It IS at a basic level. Heck, it's not even AT a basic level - it's been trailing inflation for years, if not decades.

Try living on the equivalent of a dole payment for a month. Bet you can't even make it a week.

No thanks it wouldn't even keep me in wine but there again I have a job so it's not relevant

 

[Pukka]

Re: Oz Federal Election 2013 - Discussion and Comments

Must have been a big day......enjoy dinner?

Ill Bacarro was very nice thanks, Quail starter was Very good

 

[JohnK]

Re: Oz Federal Election 2013 - Discussion and Comments

Only on amounts above the amount above the low rate threshold which does not include any tax-free portion.

Thank you.

I thought I had seen that somewhere. So I can withdraw my superannuation, tax-free, up to the reasonable benefit limit when I am aged 59? I am hoping to be well and truly retired by then but you never know what trouble I am going to get myself into between now and then.

I wish some people would just shut up and mind their own business.

And drron, pushka you are both spot on with your assessments!

 

[whatmeworry]

Re: Oz Federal Election 2013 - Discussion and Comments

EXCLUSIVE: Kevin Rudd's repeated claims of systematic anti-Labor bias in his treatment by News Corporation newspapers ahead of the September election were fuelled by an independent assessment of media reporting commissioned by the Labor Party.

Read more: News Corp bias against Kevin Rudd showed up in independent study, diary reveals
​

Oh geez, someone call Captain Obvious! Everybody knew the Rupert Murdoch the American wanted to get rid of labour!

 

[medhead]

Re: Oz Federal Election 2013 - Discussion and Comments

Only on amounts above the amount above the low rate threshold which does not include any tax-free portion.

https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/tax-and-super

True but since JohnK mentioned removing all his super at 59, that will support him for the rest of his life, and taking it overseas I assumed it would exceed such a threshold.

 

[medhead]

Re: Oz Federal Election 2013 - Discussion and Comments

Thank you.

I thought I had seen that somewhere. So I can withdraw my superannuation, tax-free, up to the reasonable benefit limit when I am aged 59? I am hoping to be well and truly retired by then but you never know what trouble I am going to get myself into between now and then.

I wish some people would just shut up and mind their own business.

And drron, pushka you are both spot on with your assessments!

Right so you're going to live, and support yourself entirely, in retirement on $180000. Ok then.

Don't want people to comment, don't talk about your business in public.

 

[Pushka]

Re: Oz Federal Election 2013 - Discussion and Comments

Thank you.

I thought I had seen that somewhere. So I can withdraw my superannuation, tax-free, up to the reasonable benefit limit when I am aged 59? I am hoping to be well and truly retired by then but you never know what trouble I am going to get myself into between now and then.

I wish some people would just shut up and mind their own business.

And drron, pushka you are both spot on with your assessments!

Yes, as long as you plan to permanently retire after 55 based on date on birth you can access up to that amount. Did you know that it's also ok to change your plans AFTER you have retired at 55 if you need to or want to return to work. As long as the intent is to permanently retire when you withdraw. And there's no time stipulated. Yet. But clearly most would not change their minds. Unless they ran out of money perhaps.

 

[Austman]

Re: Oz Federal Election 2013 - Discussion and Comments

Yes, as long as you plan to permanently retire after 55 based on date on birth you can access up to that amount. Did you know that it's also ok to change your plans AFTER you have retired at 55 if you need to or want to return to work. As long as the intent is to permanently retire when you withdraw. And there's no time stipulated. Yet. But clearly most would not change their minds. Unless they ran out of money perhaps.

Yes that's a good point. So plans could change and you could return to work. I've been told the ATO is unlikely to request that the super be repayed. You can also work part-time (there is a % limit) without a problem. And of course you can withdraw several lump sums, so you can take part of your super as a lump sum(s) before 60 (up to the tax free limit) and the the rest as a lump sum(s) after 60 to avoid tax.

 

[drron]

Re: Oz Federal Election 2013 - Discussion and Comments

There was no problem for me retiring at 60-getting a Super pension and then setting up a separate account for my part time work which has the same conditions as any pre retirement super account.

 

[Pushka]

Re: Oz Federal Election 2013 - Discussion and Comments

The world is your oyster when turning 60. Some compensation for getting older.

 

[Moody]

Re: Oz Federal Election 2013 - Discussion and Comments

There was no problem for me retiring at 60-getting a Super pension and then setting up a separate account for my part time work which has the same conditions as any pre retirement super account.

I thought they had tightened the rules to stop the "Gimme my Super pension 'coz I've retired ...... Ha Ha ..... fooled you!" run-around. Or was that one of the tax reforms recently ditched?

Speaking of which - how is the budget emergency going? I've heard our economy is at DefCon 2 but Jolly Joe doesn't want to tell the public in case they get panicky. Raising the debt ceiling by 200B was a bit of a dead giveaway that things are going to go badly in the near future.