Someone with $2,000,000 in super would be earning above $100,000 a year in interest on their super. To get to $2,000,000 you would have to contribute $50k per year over 15 or so years - which means your salary would be around $500,000 per year. $15k is tyranny? roflJay wrote:
http://en.m.wikipedia.org/wiki/Tyranny_of_the_majority#section_5
Dude, really? My wife and I make less than $200k and we invest $50k/yr.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
Don't have kids.
wait til you move into a proper family home and have children.Jay wrote:
Dude, really? My wife and I make less than $200k and we invest $50k/yr.
Kids aren't THAT expensiveMacbeth wrote:
Don't have kids.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
sending one kid to one private school per year is that $50,000 you so covet.Jay wrote:
Kids aren't THAT expensiveMacbeth wrote:
Don't have kids.
The simple fact that the tax structure on super basically means that a lot of very wealthy people aren't using it as a retirement savings scheme at all, because it's so hilariously tilted towards them compared to income taxes etc. It's often being used as a sort of tax avoidance scheme at the top.
These reforms are nothing tbh. Storm in a teacup stuff.
These reforms are nothing tbh. Storm in a teacup stuff.
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
~ Richard Feynman
I do hope you guys are salary sacrificing a portion of your pay towards super. It makes such a difference in the long run.
http://www.liberal.org.au/fast-affordab … better-nbnThe next Coalition government will deliver fast broadband that’s affordable for all Australians.
The Coalition’s plan to transform the NBN will see:
· Download speeds of between 25 and 100 megabits per second by the end of 2016 and 50 to 100 megabits per second by 2019.
· The rollout of the NBN under the Coalition will be complete by the end of 2019.
· Regions with substandard internet services will receive priority rollout.
· Basic broadband plans will always be more affordable under the Coalition than under Labor. Projections show that prices will be $24 cheaper a month by 2021 than under Labor’s NBN projected prices.
· The Coalition’s NBN will cost tens of billions less to complete than Labor’s NBN.
The Coalition’s plan will ensure the National Broadband Network is rolled out faster and cheaper, resulting in lower prices for consumers.
Families and businesses will enjoy significant increases in bandwidth given that download rates in Australia currently average less than 5 megabits per second.
Under the Coalition’s NBN all premises will have access to download speeds 25mbps to 100mbps by the end of 2016. The minimum speed will rise to 50mbps by the end of 2019 for 90 per cent of fixed line users.
We will give highest priority to the suburbs, towns and regions with the poorest broadband services today.
By contrast, Labor has failed to deliver any improvement in service to up to 2 million premises with poor broadband. Homes with a sub-standard service, new housing estates with no connection at all and the many multi-dwelling premises (such as apartment blocks) that have not been connected have little or no prospect of getting better broadband under Labor.
The Coalition’s NBN will be affordable for consumers.
From day one, average retail prices under a Coalition NBN won’t exceed prices for Labor’s NBN.
Over time, rollout savings will mean the average household broadband plan for the Coalition’s NBN will be considerably more affordable than the same plan if Labor’s NBN proceeds.
By 2021, the projected retail cost of the average broadband plan under a Coalition NBN would be $66 per month, compared to at least $90 per month with Labor’s NBN.
Labor’s own modelling predicts that prices for household broadband plans will have to quadruple in the next few years if the NBN is ever to repay the borrowed money spent to build it. Such increases will leave the NBN out of reach for average Australian families.
The Coalition’s NBN will be affordable for taxpayers.
A Coalition government will reduce the burden on taxpayers, by drastically reducing the funding needed to complete the project.
Funding costs for the Coalition’s NBN will be approximately 66 per cent less than Labor’s NBN. That’s based on the latest analysis showing Labor’s NBN will cost more than $90 billion to complete.
Our plan will cost $29.5 billion. This will ensure the NBN is cash flow positive and can operate without assistance from government.
There will be greater transparency under the Coalition
A Coalition government will conduct:
· A rigorous review into NBN Co.’s current commercial progress and options to meet the Coalition’s policy objectives.
· An independent audit into how Labor’s costly NBN was designed with no cost-benefit analysis or any consideration of other options.
· An independent review into the long-term structure and regulation of telecommunications.
There’ll be more accountability under a Coalition government with NBN Co. required to report more often to parliament, to explain its financial performance to taxpayers each quarter and provide more disclosure about its rollout and end-user take-up.
The Coalition’s plan will ensure that all Australian households and businesses can reap the benefits of the NBN much sooner and at affordable prices for consumers.
Labor has a record of failure in delivering the NBN.
Under Kevin Rudd, Labor promised fast broadband for all Australians by 2013 for a cost of $4.7 billion.
After more than 5 years in Government, only 10,400 users have signed up to the Labor’s fibre network despite $7.5 billion in cash injections to the NBN by June – already almost double the money Kevin Rudd said was needed to complete the entire NBN.
Based on the NBN’s own targets – which they have consistently failed to meet – the rollout will not be finished until 2021. On its current pace, the rollout will take years longer.
Labor now claims its NBN will cost $37 billion but latest estimates and available data indicate this projection is completely misleading. The real cost of Labor’s NBN is likely to be more than $90 billion by 2021.
Could not care less. I live in the suburb that will literally get the NBN installed last, and by then it'll be slow and outdated anyway. Big waste of money from my perspective.
The coalitions plan is for 25 MB/s
Labors 100 MB/s
Labors 100 MB/s
I just don't think you understand how super annuation works. You know how much money you'd have to have to pull over 100k a year in super profits? somewhere around the mark of 1.5-2.0 million australian. You're only paying 15 cents on the dollar for every dollar OVER 100k. so if you're pulling 200k a year you're paying only 15k, which is still a nice 185k a year AFTER tax so 7.5% on 200k a year isn't too bad now is it?Jay wrote:
100k a year is a lot when you retire? Are you a mong? Aren't you a finance major? You have 30+ years to contribute to the fund, and you pay taxes on the money you contribute. Just a single years contribution of 25k at 5% annual would return you 108048.55 at the end of 30 years. I'm just glad our fucked up social security benefits aren't taxable.Cybargs wrote:
That's if your super fund is pulling a 100k a year in PROFIT. 15% per dollar OVER 100k is nothing. OH LORD IM PAYING 15 CENTS EXTRA FOR MAKING 100,001 DOLLARS!Jay wrote:
And a brand new 15% tax on funds drawn from your retirement account. That's a lot of taxes.
Ty, on interest rates and what not it's mostly got to do with mining boom and RBA setting the interest rates... low rates don't necessarily mean a good thing, it's just a temporary boost in spending that's all.
It's ok to steal money though, as long as it's the 'rich'. Fuck the 'rich'.
100k a year might not be a lot for NYC, but it's more than enough for most cities in aus especially if you already own your own home. Most people don't rely on just their super funds to retire if they have the money, they usually have OTHER investments. Superannuation is just one forced retirement scheme that your employer pays into. Nobody in the country is crying bloody tyranny, not even the 16,000 people that are affected (because it doesn't really make a difference).
Spark is absolutely correct that a lot of super schemes have been used as tax avoidance schemes (salary sacrifice and other methods). I'm sure the top 16,000 income earners in Australia won't even notice their super being wiped out. This tax practically impacts nobody and it's such a low rate there's no protest except from the opposition because of the fact they're the opposition.
Aussie: salary sacrifice becomes more significant once you're older and hit a higher income bracket. You're better off getting a mortgage and using the income to pay it off, then salary sacrifice later on.
The Coalition's broadband plan isn't really being received with much enthusiasm. I like how they have insisted on calling their plan a National Broadband Network as well, it shows that they've recognised that the NBN is something the majority of Australians suppport so they're trying to link into the positive connotations.
See this claim only makes sense if we accept the ridiculous and unfounded claim that the NBN is blowing out to $90b despite the fact that it's been independently audited and costed three times by firms that the Coalition both trusts and uses itself. Turnbull said yesterday that he'd reveal the documentation that proved this claim when the Coalition's plan was announced. I may have missed it but I didn't see anything today.
Really though the Coalition's plan costs about two fifths less than Labor's. And when you compare that with the fact that the best possible service on the Coalition's network is half that of Labor's you can see that the Coalition thought it would have a hard time convincing people that they should lose half of a service for three fifths of the cost. It's not an even trade.
For the Coalition's National Broadband Patchwork to be an attractive alternative what they realy need to do is convince Australians that an inferior quality is 'good enough'. And that's fine, perhaps Australians do want a 'good enough' NBN rather than Labor's deluxe version. But if the Coalition really thought that they could market and sell their budget NBN they wouldn't be making stupid and false claims like it will deliver a better, faster service and to cost tens of billions less because this is simply not the case. They know their NBN plan is inferior, they just don't want to admit it.
Funny, 'cause Turnbull only claimed between 25 and 50 megabit speeds. It is quite obvious that the Coalition's scheme will not deliver even close to what Labor's NBN is promising but they continue to roll out this lie that what their planning is 'cheaper, better, and faster'. They have the first one down sure but the other two are a complete lie.· Download speeds of between 25 and 100 megabits per second by the end of 2016 and 50 to 100 megabits per second by 2019.
Only if we take your word for it but you haven't exactly revealed a rollout plan yet.· The rollout of the NBN under the Coalition will be complete by the end of 2019.
Sure, makes sense, though it will mean the process will be a lot slower and cost more.· Regions with substandard internet services will receive priority rollout.
Key word 'basic'. It's an inferior quality service, it would most likely costs less.· Basic broadband plans will always be more affordable under the Coalition than under Labor. Projections show that prices will be $24 cheaper a month by 2021 than under Labor’s NBN projected prices.
Well, by actual costings as opposed to fantasies this number is actually about $17b. Which the Coalition could have legitimately argued if it wanted to. Tens of billions sounds far more dramatic though.· The Coalition’s NBN will cost tens of billions less to complete than Labor’s NBN.
See this claim only makes sense if we accept the ridiculous and unfounded claim that the NBN is blowing out to $90b despite the fact that it's been independently audited and costed three times by firms that the Coalition both trusts and uses itself. Turnbull said yesterday that he'd reveal the documentation that proved this claim when the Coalition's plan was announced. I may have missed it but I didn't see anything today.
Really though the Coalition's plan costs about two fifths less than Labor's. And when you compare that with the fact that the best possible service on the Coalition's network is half that of Labor's you can see that the Coalition thought it would have a hard time convincing people that they should lose half of a service for three fifths of the cost. It's not an even trade.
For the Coalition's National Broadband Patchwork to be an attractive alternative what they realy need to do is convince Australians that an inferior quality is 'good enough'. And that's fine, perhaps Australians do want a 'good enough' NBN rather than Labor's deluxe version. But if the Coalition really thought that they could market and sell their budget NBN they wouldn't be making stupid and false claims like it will deliver a better, faster service and to cost tens of billions less because this is simply not the case. They know their NBN plan is inferior, they just don't want to admit it.
[Blinking eyes thing]
Steam: http://steamcommunity.com/id/tzyon
Steam: http://steamcommunity.com/id/tzyon
The press conference was one of the greatest things ever, especially when Tabbott tried to take questions whilst standing in near-total darkness.
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
~ Richard Feynman
It's fucking stupid anyway. We're going to have to upgrade off copper eventually, might as well do it whilst our public finances are in reasonably good order, borrowing costs are relatively low and labour costs will be inevitably cheaper than whatever they are when we end up being forced to do it.
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
~ Richard Feynman
You can do that?AussieReaper wrote:
I do hope you guys are salary sacrificing a portion of your pay towards super. It makes such a difference in the long run.
Not sure if salary sacrifice is an option at my work.
It's just the usual LNP strategy of providing sub-standard infrastructure to kick the costs down the road so within the election cycle they can look good financially because they didn't do all that much.
I read about Abbott's $500 dinner with guests Murdoch, Rinehart and Andrew Bolt as MC. At least he's not pretending who's pulling his strings.
I read about Abbott's $500 dinner with guests Murdoch, Rinehart and Andrew Bolt as MC. At least he's not pretending who's pulling his strings.
salary sacrifice can be negotiated before you get paid.Jaekus wrote:
You can do that?AussieReaper wrote:
I do hope you guys are salary sacrificing a portion of your pay towards super. It makes such a difference in the long run.
Not sure if salary sacrifice is an option at my work.
Re: the super thing, this graph roughly characterises the level of perspective in economic debates in Australia today:
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
~ Richard Feynman
Most of those were in the pipeline before Gillard took over, the bulk of the economy is completely outside her control, half of her actual projects are fiascos and most of the rest will be fiascos.Ty wrote:
Just in the past week Gillard has brokered a deal to make the Australian Dollar just the third currency, (after the Yen and the US Dollar,) to be traded with the Chinese. While it's not exactly obvious what the implications of this are it is most definitely an achievement. That aside you have:Dilbert_X wrote:
I'm just speculating on why she's clinging on to power, its not as if she's achieving anything.
- The Mining Tax, (which famously ended Rudd's leadership.)
- The Carbon Tax,
- The NBN,
- A continually growing Aus economy despite ongoing global financial turmoil.
- Low unemployment, low inflation, low interest.
- Health reform,
- Educational reform,
- Australia's new seat on the UN Security Council,
- NDIS, (currently being wroked on.)
- Gonski review reforms, (currently being worked on..
Fuck Israel
dilbert only has room for one female leader in his personal wank-bank
It's easy to sit back and criticise everything when you stand for nothing.
Speak to your HR about it. I put in 12%, rather than the typical 9%. I can change it whenever I want.Cybargs wrote:
salary sacrifice can be negotiated before you get paid.Jaekus wrote:
You can do that?AussieReaper wrote:
I do hope you guys are salary sacrificing a portion of your pay towards super. It makes such a difference in the long run.
Not sure if salary sacrifice is an option at my work.
As it is salary sacrifice, it comes out pre-tax, so works out better than say moving from your savings account into your super.
And if you wanted to move below a tax threshold you could do so by increasing your super. However it would likely be taken into account come your tax return if you did that.
Wow, thats about what I invest.Jay wrote:
Dude, really? My wife and I make less than $200k and we invest $50k/yr.
I should probably think about it, really its a nice tax avoidance wheeze but to work it needs to be self-managed - I don't trust most of the pension companies and don't believe the stock market is that safe a place in the very long term.
Last edited by Dilbert_X (2013-04-09 04:15:30)
Fuck Israel
