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An undoubted cash cow that can, could and will be exploited to the benefit of whichever political party holds the keys to the Treasury cash registrar.
An undoubted cash cow that can, could and will be exploited to the benefit of whichever political party holds the keys to the Treasury cash registrar.Please re read the highlighted quote in my previous post.
The Govt can lean on the funds to work on behalf of the nation as has been shown in the above post and has also been suggested in funding renewables in the near future.
You keep up the double talk and people will think your an MP. Lol
As for the LNP giving the resources away, all sides have been doing that, Jimbo is having a beano getting great returns on iron ore.
You might have missed it, but he has mentioned that iron ore has added to his budget surplus quite often. Lol
Now we are going to rebuild the solar panel manufacturing plant, that Kev shut down last time Labor was in office, go figure. Lol
Wouldn't it be great if there was a perfect political party, it will never happen, despite your blind faith.
By the way, raiding the future fund is never far away from either parties minds and by the way it was the LNP that started the future fund if you remember. Lol
Super savings should be used to invest in defence sector: Chalmers
Last year, the treasurer said there was a role for super in supporting affordable housing and clean energy. Now, he wants to expand that to include defence.www.afr.com
That's the way it is, the Govt gives people a tax break on putting the money in, the Govt has the right to say how it is dealt with, nothing strange about that.An undoubted cash cow that can, could and will be exploited to the benefit of whichever political party holds the keys to the Treasury cash registrar.
@sptrawler I don't have any issue with this cash cow being used by the Govt as long as it betters the capital used.That's the way it is, the Govt gives people a tax break on putting the money in, the Govt has the right to say how it is dealt with, nothing strange about that.
As long as the person gets a reasonable rate of return, it doesn't matter.
The taxpayer as usual, but one way or another the taxpayer pays for it anyway, directly or indirectly.@sptrawler I don't have any issue with this cash cow being used by the Govt as long as it betters the capital used.
If of course if something does go belly-up who makes up the difference to the bottom line?????
If you assess the PV/FV/PMT combinations of the Challenger annuities they are based on a growth of under 5% pa.Lifetime Annuities are a widely-used option by Financial Advisers.
Challenger are the biggest provider and they offer a Lifetime Annuity. These have a cash-out/withdrawal value in the early years following purchase, so they are more flexible than they used to be. You can opt for indexation of payments. Centrelink only assess 60% of the purchase price under the Assets Test, so they help increase qualification for Age Pension.
Yes annuities aren't very popular, they tie up the money and remove flexibility from my understanding, the other issue is around the concept that it wont affect the pension, I don't think people believe that spiel anymore.If you assess the PV/FV/PMT combinations of the Challenger annuities they are based on a growth of under 5% pa.
I looked at these very closely 2-3 months ago.
Yes nice to have a ‘known’ income over a time period or lifetime, however with no tax in super pension phase I believe (I know) I can beat 5% annually even just on the OZ market average gain and the dividends over a medium to long term. Add in some international equities then the return increases.
Yes there are market down turns but for a retiree with 10/15/20 years to go Challenger are certainly not of value to someone with any investment experience.
With savings accounts and Fixed Income at about 5% now (who knows in the future) I wouldn’t touch a 5% return annuity.
Gunnerguy
Even our little friends down at the ATO know it , too .I believe (I know) I can beat 5% annually
With regard super and the pension, the next cab off the rank is deeming.Even our little friends down at the ATO know it , too .
Just got a friendly letter from their Albury bunker , telling me they intend jacking up my next PAYG payment by an extra 5 % .
No need to appeal it. ( Five percent eh ? Oh what a blessing ! )
Me and Ms Gunnerguy get PAYG requests every year after submitting our returns.Even our little friends down at the ATO know it , too .
Just got a friendly letter from their Albury bunker , telling me they intend jacking up my next PAYG payment by an extra 5 % .
No need to appeal it. ( Five percent eh ? Oh what a blessing ! )
Please re read the highlighted quote in my previous post.
The Govt can lean on the funds to work on behalf of the nation as has been shown in the above post and has also been suggested in funding renewables in the near future.
You keep up the double talk and people will think your an MP. Lol
As for the LNP giving the resources away, all sides have been doing that, Jimbo is having a beano getting great returns on iron ore.
You might have missed it, but he has mentioned that iron ore has added to his budget surplus quite often. Lol
Now we are going to rebuild the solar panel manufacturing plant, that Kev shut down last time Labor was in office, go figure. Lol
Wouldn't it be great if there was a perfect political party, it will never happen, despite your blind faith.
By the way, raiding the future fund is never far away from either parties minds and by the way it was the LNP that started the future fund if you remember. Lol
Super savings should be used to invest in defence sector: Chalmers
Last year, the treasurer said there was a role for super in supporting affordable housing and clean energy. Now, he wants to expand that to include defence.www.afr.com
future fund ?Norway population 5,474,360 sovereign wealth fund US$1.62 trillion
Australia population 26,649,231 sovereign wealth fund = 0
Australian debt heading towards $1 trillion
Pick the difference.
And your point is? With regard our discussion.Norway population 5,474,360 sovereign wealth fund US$1.62 trillion
Australia population 26,649,231 sovereign wealth fund = 0
Australian debt heading towards $1 trillion
Pick the difference.
future fund ?
And your point is? With regard our discussion.
If you assess the PV/FV/PMT combinations of the Challenger annuities they are based on a growth of under 5% pa.
I looked at these very closely 2-3 months ago.
Yes nice to have a ‘known’ income over a time period or lifetime, however with no tax in super pension phase I believe (I know) I can beat 5% annually even just on the OZ market average gain and the dividends over a medium to long term. Add in some international equities then the return increases.
Yes there are market down turns but for a retiree with 10/15/20 years to go Challenger are certainly not of value to someone with any investment experience.
With savings accounts and Fixed Income at about 5% now (who knows in the future) I wouldn’t touch a 5% return annuity.
Gunnerguy
Yes @SirRumpole and myself have been saying for years, the royalties charged on companies should be adjusted on a constant basis, to reflect the prevailing market."You might have missed it, but he has mentioned that iron ore has added to his budget surplus quite often. Lol"
As you can see from Norway's experience its adds very little we are still $1 trill or there abouts in debt.
Realistically Labors surpluses will be short lived.
I think it is Sweden that makes sure its populace gets a fair share when it comes to oil. From memory a royalty of 30% goes into their "forever fund"Yes @SirRumpole and myself have been saying for years, the royalties charged on companies should be adjusted on a constant basis, to reflect the prevailing market.
Brendon Grylls in W.A pushed it, but he was shut down, now all of a sudden when nickel falls on its ar$e it isn't that difficult to adjust royalties.
All our minerals and energy exports should be taxed on a volume base against a benchmark IMO, but that is probably another thread.
@sptrawler Will funds now start to cry poor, as it is their money and not ours!!!!Interesting article.
Boomer ‘wave’ of outflows starts to hit super
Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as baby boomers reach retirement age.www.afr.com
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