Australian (ASX) Stock Market Forum

Is Shorten PM material?

Is Shorten PM material?

  • Yes

    Votes: 6 16.2%

  • No

    Votes: 31 83.8%
  • Total voters
    37
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sptrawler said:
The tax break is mainly to SMSF that have shares and individual retirees who have small share holdings.
Those will be people, who have saved over a whole working career and paid tax over a half century.
Well that is my case, and the case of people I personally know, that will be effected.
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And what about prior to the change in 2000 ?
 
sptrawler said:
That is very true, my late father retired in the 1990's as an electrical supervisor and had minimal super.
But having said that, of all the people I have known in my working career, very few saved other than super.
I read a book a long time ago by Noel Whitaker, in it he said of 100 people only about 5 will become financially independent, I've found that fairly accurate.
Most spend everything they earn, and then get credit, to spend their future earnings.
After a lifetime of this, they wonder why they have nothing, and demand money be taken of the 5 that did save.
The funny thing is, Labor agrees with them, reason being most of them vote Labor.:D
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That is soooo true. Presently in the 95% category by making bad decisions, bad timing and bad parenting regarding wise investment advice. Parents followed their parents where the end goal was the government age pension.
 
Wysiwyg said:
Motgage and small personal loan.
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Rent the house out then its an investment loan. Of course then you would have to pay rent.
You could always work the boss to package accommodation.

If you really want to push the boundaries get paid in silver or gold ounce coins that have the $10 or $50 denominations on them. But real value worth a lot more. Hey its legal tender.
I always wondered what the rules were around that. I'm guessing the taxman would pumpeth.
 
sptrawler said:
Before 2000, most people expected to get a full pension, super only came in in the early 1990's.
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Right.... before 2000 most people who invested in high yield divvy stocks didn't do it to receive cash from franking credits. In any event, I find it hard to believe they would even qualify for a full pension. Most ASX200 stocks would've doubled their value in that time.
 
SirRumpole said:
Exactly right. Talk about entitlement, people getting $100,000 a year in super and paying no tax, companies earning billions and paying no tax, it's absurd.
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That is a very pertinent point, and points out how full of BS Labor are, last election they were going to tax self funded pensioners who earned more than $100,000. I thought that was fair enough, because $100,000 is a good income and fair reward for endevour.
But now the Liberals have dropped what you can have in super, so most will earn well under $100,000, they are going to hit it further by removing a tax incentive.
Most people with say $1.5m, will have $1m in shares returning say 5%, the rest in cash or term deposit earning 2%.
So a total return of $60,000, that is hardly brilliant, for the effort it takes to put $1.5m together.
When you can get $34,000 pension for doing sod all.
 
PZ99 said:
Right.... before 2000 most people who invested in high yield divvy stocks didn't do it to receive cash from franking credits. In any event, I find it hard to believe they would even qualify for a full pension. Most ASX200 stocks would've doubled their value in that time.
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Before 2000, wages weren't anything like they are now. It really took some effort to find the spare cash to invest. Check out historical share ownership in Australia, it has only been relativily recent, that a lot of people directly owned shares.
 
sptrawler said:
Before 2000, wages weren't anything like they are now. It really took some effort to find the spare cash to invest. Check out historical share ownership in Australia, it has only been relativily recent, that a lot of people directly owned shares.
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Cost of living wasn't anything like now either. I would argue people were better off then then now in a like for like scenario. Home ownership has been declining for 3 decades.

I reckon the increase in share ownership has more to do with falling deposit yields than the wage index
 
Toyota Lexcen said:
If you own home, have holidays during working career, then get pension

For a couple it's a good system?
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Agreed. It's a bit late waiting for retirement years until you go travelling, having wild sex on a populated beach, nude sky diving, rave parties, photocopying your bum, ... you know all the things you look back on with great fondness..............
 
PZ99 said:
Attacking the author rather than the article reduces a name callers' credibility to anyone with higher IQ than a Tony Abbott supporter.

Try again :)
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Labor rusted on commie dh.
Yeah thats what I'm going with.
 
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