You closed smsf and went into aus super while i am thinking doing the reverse..
I have done this. When I was an apprentice carpenter, my boss paid into my bussq super for me. I have left that one open purely for the death insurance in it. It is half the price of anything outside of that fund or what I could find myself.I stopped insurance thru super so not important for me, but yes, could be a good point
If required, i could still keep a token super amount with the fund
food for thoughts, thanks, a process I go thru regularily as circumstances changes on top of the smsf landscape being quite mmoving as well.
Thanks all for your answers
No, it does not cost Australia, Australia does not steal it, or steal less.Do Australia's super tax concessions take from the poor and give to the rich?
By business reporter Gareth Hutchens
Australia's top 10pc income earners are big beneficiaries of super tax concessions
Australia's super tax concessions will cost the government almost $60 billion in 2025-26, which is $9 billion more than expected. How can we afford it?www.abc.net.au
That's one point of view but if we have to spend $200 billion (?) on nuclear reactors or $600 billion (?) on renewables then the money has to come from somewhere.No, it does not cost Australia, Australia does not steal it, or steal less.
If you consider any tax as a robbery( state can still ask for user pay....) then concessions are just less impost, as for "take from poor"..the ABC in its splendour of entitlement and a way of thinking which is so distorted that many now actually truly believe the above.
Once people believe that some citizen paying more taxes than someone else is fair, both in % and numerically, there is no hope....
How do you dare having more super than me, so unfair..
Indeed, the electricity user, per kwhThat's one point of view but if we have to spend $200 billion (?) on nuclear reactors or $600 billion (?) on renewables then the money has to come from somewhere.
easy , inspire the super-funds to invest in nuclear reactors , but we don't ' HAVE TO ' we can always go back to the Stone Age and need much less Government nor electricityThat's one point of view but if we have to spend $200 billion (?) on nuclear reactors or $600 billion (?) on renewables then the money has to come from somewhere.
It's an easy fix but no gov has the balls to do it. Get rid of all the outdated taxes like stamp duty etc and raise the gst. It's the most fairest tax of them all. As qldfrog said above it's a user pay system so the more you spend the more you pay, so simple.That's one point of view but if we have to spend $200 billion (?) on nuclear reactors or $600 billion (?) on renewables then the money has to come from somewhere.
@rolly1 Unfortunately the GST will never get changed. Whoever moots the idea would be the biggest loser at the next election.It's an easy fix but no gov has the balls to do it. Get rid of all the outdated taxes like stamp duty etc and raise the gst. It's the most fairest tax of them all. As qldfrog said above it's a user pay system so the more you spend the more you pay, so simple.
They just need a decent PR firm to sell it to the middle and low income earners. And no not how they did it when it first came in with the cake debacle@rolly1 Unfortunately the GST will never get changed. Whoever moots the idea would be the biggest loser at the next election.
That investment only represents about 0.5% of the funds they manage, members are going to see a difference in their returns.It wont matter, a new batch of money coming in next payday and a new group of members being born or getting off a plane every day.
Lol a never ending supply of money, it can't go wrong, can it?
the flaw with the sales pitch the first time ( for GST ) was the Government wanted to keep ALL the other taxes , instead of replacing them ALLThey just need a decent PR firm to sell it to the middle and low income earners. And no not how they did it when it first came in with the cake debacle
And some more pr for AustralianSuper
27millions from super members going as a fine..will teach the bastards .‘No excuse’: ASIC seeks $27m fine against super giant for customer care fail
The corporate watchdog asked the Federal Court for a penalty with “real sting and burden” against AustralianSuper as a warning to the wider sector.www.afr.com
The irony is lost?
Thanks ASIC, so happy to send you my money....
Always sad when it OPM and not theirs.AustralianSuper not doing so well for its members.
Dec 2024
AustralianSuper-backed graphite producer Syrah Resources is in crisis talks with US government agencies after civil unrest near its Mozambique mine halted production and triggered default clauses on crucial US government loansSyrah has been unable to make a profit from graphite mining at its Balama facility in Mozambique since 2017 and so has relied on AustralianSuper and US government agencies to either subscribe for shares or lend it money to stay in business.
Jan 2025
Australia’s largest superannuation fund and other shareholders will be left empty handed after cobalt producer Jervois Global unveiled a $233.5m recapitalisation deal with its major US lender. The deal with Boston-based Millstreet Capital Management will see Jervois enter voluntary administration and become privately-owned under provisions in Chapter 11 of America’s Bankruptcy Code. Jervois chief executive Bryce Croker said he was disappointed for AustralianSuper and other shareholders who came on board when the company was considered a prime vehicle for investors seeking exposure to non-China cobalt supply chains.
Always sad when it OPM and not theirs.
Always sad when it OPM and not theirs.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?