Oz Federal Election 2013 - Discussion and Comments

[cove]

The good news from all of this is many more of us now know how much we have accumulated in superannuation and many may start considering getting their multiple accounts put into just one account. Many have never reviewed their investment mix even when they are close to retirement.

 

[casanovawa]

Or know how much we haven't accumulated..

I never look it, well i haven't received anything for 11 years so couldn't, but have to say its way at the back of the mind in priorities... I guess i should look at it a bit as no spring chicken anymore...

 

[cove]

I think about 10 percent know how much they have or have not accumulated in super.

 

[Mal]

I think about 10 percent know how much they have or have not accumulated in super.

Its strange isn't it. I don't micro manage it, but there's the annual statement sent to me. I do log on at times and check though.
Investment preference wise I haven't changed in quite a while. Pretty aggressive option, plenty of time before I retire to care about annual dips and increases. (Although I'm still kicking myself for not moving to safer options for a year or so a few years ago)

 

[ComeFlyWithMe]

Just to clarify, it's the member who pays the tax on their earnings (or their proportion in an SMSF), not the fund. The fund purely administers the collection of said tax.

In a normal public offer fund, it will be based on your personal earnings as shown in your statement.

It seems Canberra is keeping the advice industry cashed up for get another year as many members can now trash their previously devised financial plans and start over.

 

[Deleted member]

Its strange isn't it. I don't micro manage it, but there's the annual statement sent to me. I do log on at times and check though.
Investment preference wise I haven't changed in quite a while. Pretty aggressive option, plenty of time before I retire to care about annual dips and increases. (Although I'm still kicking myself for not moving to safer options for a year or so a few years ago)

Safer? If you look at long (er) term returns , the "safer" options lose every time.

 

[Mal]

Safer? If you look at long (er) term returns , the "safer" options lose every time.

Move to safer was only going to be short term...

 

[Deleted member]

Just to clarify, it's the member who pays the tax on their earnings (or their proportion in an SMSF), not the fund. The fund purely administers the collection of said tax.

In a normal public offer fund, it will be based on your personal earnings as shown in your statement.

It seems Canberra is keeping the advice industry cashed up for get another year as many members can now trash their previously devised financial plans and start over.

Canberra is no friend of the advice "industry". In fact bill shorten has probably done more to reduce affordable access to advice for small account holders than any before him.
Those who avail themselves of GOOD advice will already be in a position to deal with this change . But let's wait and see, it hasn't even made it into the house of reps yet! Who knows what it will finally look like

 

[Alanslegal]

Smart politic'ing by Tony Abbott yesterday with the revealing of the Coalition's NBN To me it seemed like he managed to kill two birds with one stone.

Not only can he boast about (potentially misleading) cost savings but he then made Malcolm Turnbull look like a dudd selling old copper technology. After all, Malcolm is way more popular than Tony and with the media and people suggesting his NBN is ancient, people can blame Malcolm for same.

Here's some analogies;

Its like building a 100km motorway and the last km is made out of boulders.

Its like buying a BMW however all four wheels are "run flats".

Its like building a six bedroom house but without a roof.

Its like drinking vintage champagne ... but its been left opened for a month.

 

[browski]

Smart politic'ing by Tony Abbott yesterday with the revealing of the Coalition's NBN To me it seemed like he managed to kill two birds with one stone.

Not only can he boast about (potentially misleading) cost savings but he then made Malcolm Turnbull look like a dudd selling old copper technology. After all, Malcolm is way more popular than Tony and with the media and people suggesting his NBN is ancient, people can blame Malcolm for same.

Here's some analogies;

Its like building a 100km motorway and the last km is made out of boulders.

Its like buying a BMW however all four wheels are "run flats".

Its like building a six bedroom house but without a roof.

Its like drinking vintage champagne ... but its been left opened for a month.

Whilst Malcolm has been forced to sell a s%%t sandwich, it by no means left him looking more stupid than Abbott.
When you are in the Olympic Final for stupidity it will take the significant powers of Sophie Mirabella to defeat you.

 

[Alanslegal]

saw this floating around facebook

 

[tgh]

Whilst Malcolm has been forced to sell a s%%t sandwich, it by no means left him looking more stupid than Abbott.
When you are in the Olympic Final for stupidity it will take the significant powers of Sophie Mirabella to defeat you.

Abbot seems to be in OK company in the following .. but of course C.Browski probably admires more earthy skills......

Each year, there are nine Scholarships available in Australia to enable outstanding students - chosen on the basis of exceptional intellect, character, leadership, and commitment to service - to study at the University of Oxford.
The first Australian Rhodes Scholars took up residence in Oxford in 1904, and since that time many hundreds of Australians have been awarded this prestigious scholarship. They have pursued a variety of careers in public service, academia, business, law, and medicine, amongst others. Many have achieved notable distinction, including:

• Former Prime Minister Bob Hawke
• Former Governor-General Sir Zelman Cowen (click here for tributes on his death in December 2011)
• Opposition Leaders Kim Beazley (now Australian Ambassador to the US), Malcolm Turnbull, and Tony Abbott
• Nobel Prize winners Sir John Eccles and Lord (Howard) Florey
• Pioneer in evidence-based medicine Anna Donald
• Justices Hayne and Heydon of the High Court of Australia, and
• Justice Elizabeth Hollingworth of the Supreme Court of Victoria.

Information about Rhodes Scholars elected for Australia and around the world can be found in biographies of the Rhodes class of 2013, the Rhodes class of 2012 and the Rhodes class of 2011.

Several Australian Rhodes Scholars have been featured as Scholar of the Week on this website. Please also enjoy video interviews with Rhodes alumni, including Justice Elizabeth Hollingworth.

 

[Pushka]

So, it seems to me that people can recognise that Labor has done some good things, although not well executed. eg, The National Disability Insurance Scheme. But lets get on and do it, oh wait, there's no money as it is all spent. Great idea, poor execution. As far as Labor supporters, it doesnt matter what Abbott is going to suggest, they think it's rubbish. Haters gonna hate, regardless. Still, they'd never vote Coalition in a fit so I guess they are are 32% rock bottom ones.

 

[amaroo]

Canberra is no friend of the advice "industry". In fact bill shorten has probably done more to reduce affordable access to advice for small account holders than any before him.

IMHO the axing of the secret commissions, benefits & kick backs that "some" advisors were feasting on - has been a real benefit to the community.

The amount of dodgy deals that have been going on by so called reputable planners - is an outright disgrace!

 

[medhead]

The problem with Abbott's ideas is that he either does not share them, and those he does share are plain stupidity. From where I sit Abbott is going to spend $30 billion to give me what I have already. Then there is the pick a box carbon scheme, where Abbott picks winners, via direct action, who will be given our tax dollars. Perhaps he just needs to throw in a whiteboard to round off that policy. :Rolleyes: It doesn't take hating to see the obvious flaws in these 2 ideas.

Then there is.... Well what other policies does Abbott have?

Edit: I forgot "stop the boats". Stupidity to tow boats back to Indonesia.

 

[amaroo]

Smart politic'ing by Tony Abbott yesterday with the revealing of the Coalition's NBN To me it seemed like he managed to kill two birds with one stone.

Not only can he boast about (potentially misleading) cost savings but he then made Malcolm Turnbull look like a dudd selling old copper technology. After all, Malcolm is way more popular than Tony and with the media and people suggesting his NBN is ancient, people can blame Malcolm for same.

Here's some analogies;

Its like building a 100km motorway and the last km is made out of boulders.

Its like buying a BMW however all four wheels are "run flats".

Its like building a six bedroom house but without a roof.

Its like drinking vintage champagne ... but its been left opened for a month.

or,

We should all be flying in the Concorde......not bog standard jets

 

[browski]

So, it seems to me that people can recognise that Labor has done some good things, although not well executed. eg, The National Disability Insurance Scheme. But lets get on and do it, oh wait, there's no money as it is all spent. Great idea, poor execution. As far as Labor supporters, it doesnt matter what Abbott is going to suggest, they think it's rubbish. Haters gonna hate, regardless. Still, they'd never vote Coalition in a fit so I guess they are are 32% rock bottom ones.

Pushka, you may not have noticed this and possibly a close friend rather than myself should bring this to your attention.......but you are a hater.

 

[Pushka]

Pushka, you may not have noticed this and possibly a close friend rather than myself should bring this to your attention.......but you are a hater.

I have voted Labor, have you ever voted Coalition?

 

[The Rok]

If you have to negatively gear a 2nd home to make it worth while then you can't afford it in the first place!

Look at all the idiots in Europe who bought investment properties for their retirement and on the advice of accountants negatively geared them to gain a tax benefit, now where do they sit?

While we all love to reduce our tax liabilities and somehow have a win over the greedy taxman, the end result is that if you pay a lot of tax, you are earning a lot of money. I'll be happy when someday I have a $500,000 annual tax bill.....

I hate paying tax, but it's relative to my income. We are about to buy a 2nd property as an investment and I have already told the accountant that I have no interest (no pun intended) in negatively gearing it. I want to clear its mortgage ASAP. If I'm paying tax on it, then I'm making money on it.

 

[medhead]

Yeah people forget that negative gearing means you're losing money. However, you can go negative with non-cash costs. An important thing to remember is the capital works deduction, make sure you claim it because it can come back to bite.

The property I sold last year only made money for 1 or 2 years out of 10. But my gross cash position (rent - expenses) was about +$1800 per year, on average