Join up at Bet Easy - Click here - Bet Easy is Thoroughbred Village’s premier betting partner - Join here now
Forum Home Forum Home > All Sports - Public Forums > Joffs All Sports Bar
  New Posts New Posts RSS Feed - LNP government.
  FAQ FAQ  Forum Search   Events   Register Register  Login Login


Click here for the Thoroughbred Village Home Page. For village news, follow @TBVillage on Twitter. For horseracing tips, follow @Villagebet on Twitter. To contact the Mayor by email: Click Here.

LNP government.

 Post Reply Post Reply Page  <1 691692693
Author
Message
Passing Through View Drop Down
Champion
Champion
Avatar

Joined: 09 Jan 2013
Location: Australia
Status: Offline
Points: 30358
Post Options Post Options   Thanks (0) Thanks(0)   Quote Passing Through Quote  Post ReplyReply Direct Link To This Post Posted: 1 hour 24 minutes ago at 9:05am
The evidence is clear - $200 Billion in new regressive, punitive taxes, robbing the people who can least afford it


Speaking of credibility, you quoting numbers you cant verify again? 

 Glutton for punishment bigly. 
Back to Top
Sponsored Links
Click here to view the promotions at Bet Easy.


Back to Top
rusty nails View Drop Down
Champion
Champion


Joined: 20 Mar 2013
Location: Sydney
Status: Online
Points: 2698
Post Options Post Options   Thanks (0) Thanks(0)   Quote rusty nails Quote  Post ReplyReply Direct Link To This Post Posted: 48 minutes ago at 9:41am
Originally posted by Dr E Dr E wrote:

Originally posted by Whale Whale wrote:

If self funded retirees receive tax free income and that is considered unfair look at revising their status and consider taxing them But franking credits are  there because the tax has been paid, nobody should be discriminated against.
The example of someone with $1 million in their fund drawing a pension of $100,000 is feasible but highly unlikely, just meant to portray them as evil greedy parasites. The minimum retirees must draw on a pension is 5% and most retirees take something like that, the reason being they want their funds to last as long as they do, possibly 20 years +. The stupid example of $100,000 means the person would exhaust his funds in just over 10 years, not a good strategy.  I suppose they could then go on the government pension Unhappy

I don't get his example of $1.2 million and another $1.2 million from aunt's estate, the limit per person in super is $1.6 million per person, I guess facts don't matter to him as long as he can besmirh self funded retirees.

If Labor feels they must do something at least have a cap, say $5000 or $10,000 in franking credits, that way those most dependent on the money will not be penalised, anything over that taxed at 15%


Richard Dennis seems to be against the whole super system tax free pensions not only franking credits. I am sure he is in a great super scheme and will not be knocking back any benefits when the time comes
Clap ... two simple things that Labor ignores Whale that concern me about this kind of tax grab ... life expectancy and future welfare liabilities.

Taking money away from this demographic, who are currently NOT drawing an age pension, just brings them closer to being a drain on the tax system, as well as their heirs. The further ramification of that is they leave nothing as an inheritance, so diminishing the nations asset base. Most people who are beneficiaries of a modest inheritance, spend it, and so, unless they have been greedy selfish capitalists themselves, will eventually be reliant on an aged pension in their retirement. If they receive a large inheritance, they are less likely to be a drain on the public purse in the future. 

The evidence is clear - $200 Billion in new regressive, punitive taxes, robbing the people who can least afford it - Labor/Greens are running out of money, and they don't even have the keys to the cash draw yet.Ouch

Wow, you just don't understand money,finance or taxes do you?
If I own a couple of mill in shares in my SMSF,let's say yielding 5%, Thats $100k tax free
I'm receiving (remembering that I was able to accrue these funds by receiving massive tax relief for 40?odd years...)

Anyway, getting 100k tax free isn't good enough,Doc also wants me to get a gift from the Government of $30k for converting franking credits into cash.
And he thinks I'm self funded....

In any case, it's not the battlers who are gaining most of the benefit.
50% of the benefits are going to 10% of the people .....

And Doc, the superannuation benefits are designed for people to spend their money as they age,not to leave as big an inheritance as possible.
And it's beyond stoopid to suggest, it's better for the economy for my kids to spend my inheritance, than for me to spend it.
A dollar is a dollar....
Back to Top
Whale View Drop Down
Champion
Champion
Avatar

Joined: 01 Jun 2009
Location: broome
Status: Offline
Points: 35882
Post Options Post Options   Thanks (0) Thanks(0)   Quote Whale Quote  Post ReplyReply Direct Link To This Post Posted: 35 minutes ago at 9:54am
what about my idea to limiting franking credits to 5 or 10k, that way the battlers don't lose an important contribution to their income ?

seems like a fair compromise to me
Back to Top
Whale View Drop Down
Champion
Champion
Avatar

Joined: 01 Jun 2009
Location: broome
Status: Offline
Points: 35882
Post Options Post Options   Thanks (0) Thanks(0)   Quote Whale Quote  Post ReplyReply Direct Link To This Post Posted: 31 minutes ago at 9:58am




Wow, you just don't understand money,finance or taxes do you?
If I own a couple of mill in shares in my SMSF,let's say yielding 5%, Thats $100k tax free
I'm receiving (remembering that I was able to accrue these funds by receiving massive tax relief for 40?odd years...)

Anyway, getting 100k tax free isn't good enough,Doc also wants me to get a gift from the Government of $30k for converting franking credits into cash.
And he thinks I'm self funded....

In any case, it's not the battlers who are gaining most of the benefit.
50% of the benefits are going to 10% of the people .....

And Doc, the superannuation benefits are designed for people to spend their money as they age,not to leave as big an inheritance as possible.
And it's beyond stoopid to suggest, it's better for the economy for my kids to spend my inheritance, than for me to spend it.
A dollar is a dollar....[/QUOTE]

what do you mean I ? If you are referriing to a single person the limit is $1.6 million
Back to Top
 Post Reply Post Reply Page  <1 691692693
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 11.10
Copyright ©2001-2017 Web Wiz Ltd.

This page was generated in 0.328 seconds.