Bill Shorten - how long?

[Bomberboyokay]

He is the local member for Maribyrnong where the club is based and where a number of his constituents follow the club.

The club is in Calwell.

 

[CLUBMEDhurst]

about 3 inches with a stiffy

 

[Power Raid]

about 3 inches with a stiffy

Destined for a career in politics

 

[Maggie5]

Shorten has no idea, his interview today was boring and predictable. Has to go!

 

[Ice-Wolf]

$200k might sound like a lot but its F all for the task.

For a backbencher who does SFA and just votes how the are told? Or in Clive Palmers case barely turns up to vote at all.

 

[Power Raid]

For a backbencher who does SFA and just votes how the are told? Or in Clive Palmers case barely turns up to vote at all.

I would suggest it is quite a demanding job. late nights, early mornings etc.......in fact its one of those jobs that become your life rather than a 9-5

 

[pazza]

I would suggest it is quite a demanding job. late nights, early mornings etc.......in fact its one of those jobs that become your life rather than a 9-5

Indeed.

And their work doesn't stop when they leave Canberra either. The things their partners have to endure is one of the untold stories.

 

[Power Raid]

Indeed.

And their work doesn't stop when they leave Canberra either. The things their partners have to endure is one of the untold stories.

Personally I think its cruel on the families. Especially in this day and age of social media.

 

[medusala]

Cant have people making their own decisions with their own money now can we Billly? No, we need unions and the govt to tell people what is good for them.

http://www.businessspectator.com.au...il&utm_content=1852069&utm_campaign=am&modapt

Allowing low-income earners to opt out of compulsory superannuation would be a “despicable attack” on people’s future retirement, Labor says.

 

[pazza]

Cant have people making their own decisions with their own money now can we Billly? No, we need unions and the govt to tell people what is good for them.

http://www.businessspectator.com.au...il&utm_content=1852069&utm_campaign=am&modapt

Allowing low-income earners to opt out of compulsory superannuation would be a “despicable attack” on people’s future retirement, Labor says.

And he would be right.

Compulsory Super works.

 

[Rustin Cohle]

Cant have people making their own decisions with their own money now can we Billly? No, we need unions and the govt to tell people what is good for them.

http://www.businessspectator.com.au...il&utm_content=1852069&utm_campaign=am&modapt

Allowing low-income earners to opt out of compulsory superannuation would be a “despicable attack” on people’s future retirement, Labor says.

And they would be completely correct. This is just another typical Liberal short sighted fix to a long term issue that will ultimately cause more problems for future generations. It's a pathetic political ploy for cheap votes.

 

[medusala]

And they would be completely correct.

Lol. Shorten is just protecting union super funds.

And he would be right.

Compulsory Super works.

More humour. Australia gives out tax deductions almost to the extent that the pension costs. Sure, it really works.

Its just a rort for the finance industry and the unions to extort money from people. Given the union connection its hardly surprising you support it. I would bet you were also in favour of no ticket no start as well.

 

[JoseMourinho]

Allowing low-income earners to opt out of compulsory superannuation would be a “despicable attack” on people’s future retirement, Labor says.

I agree with Labor. I'd not recommend for this for any client of my firm at all. (unless the govt co-cont stays in place as per below strategy)

9.5% on $37,000 of it would be $3,515 (before tax) per year and would be $2,200 after tax which is roughly $84.61 a fortnight.

I can picture most people pissing up this $84.61 against a wall then expecting an age pension for when they retire.

Smart people would abuse this for government co-contribution. Earn $33,000,- take your SGC out (which will be $2,100 after tax), put $1,000 as a NCC in, get $500 co-contribution. Get taxed at 34% to get a 50% return in super. Easy 16% return (which will get closed up faster than you can say free happy meal). It can also be used against personal mortgages (because if you're paying off investment mortgages then you're not good) which is why i'd limit it to people who are less than 35 years old. If you're over it, no bueno.

However, this means that you have less in Superannuation. I hope they are flexible with it because this will be a loophole that ironically only the poor can abuse since the rich will probably easily exceed co-con range. (DISCLAIMER - Please seek your personal advice before doing anything).

Re: Shorten
Shorten's interest is definitely with Union Superfunds. No doubt about it, I remember him making a huge deal about SGC rate being frozen when Abbott was PM. At the time, I agreed with Abbott freezing it because if you want to contribute more than sacrifice your salary.

IndustrySuper knows damn well that anyone with a financial adviser would definitely not be putting just SGC into their Superfund and would be on a retail fund. That is why they constantly rail against them. (direct competitor)

One of my mates once said that AustralianSuper makes money at the apathy of their members.

Disclaimer - I work at a financial planning firm just incase none of you thought it was obvious enough

 

[CM86]

Right...

So we need to get rid of penalty rates and the minimum wage...
But we also need to let low income earners access their super to support themselves financially.

Decrease the pension. Extend the minimum age for retirement...


Sounds like a long term solution...

#blametheunions

 

[medusala]

Right...

So we need to get rid of penalty rates and the minimum wage...
But we also need to let low income earners access their super to support themselves financially.

Decrease the pension. Extend the minimum age for retirement...

Who talked about decreasing the pension?

#makingcrapupasIgo

 

[Power Raid]

And he would be right.

Compulsory Super works.

?

it doesn't work for the poor and doesn't work for the rich (other than the tax) and doesn't work for anyone with a brain, who has time and interest in their retirement.

but I do concede it works very well for the hard working middle class who don't have time to manage their own retirement savings

it also works very well for the nation and industry.

 

[CM86]

Who talked about decreasing the pension?

#makingcrapupasIgo

We can afford the pension? Let alone in 60 years?

That's great news. Will it adjust with the cost of living?

I thought you'd be against that.

 

[medusala]

We can afford the pension? Let alone in 60 years?

Its not the pension that's proving expensive its the super tax breaks (the whole point of super was that it was meant to save money on the pension!).

http://www.taxpayer.com.au/News/281...x_breaks_to_be_abolished_in_lead-up_to_Budget

Australia Institute executive director Richard Denniss said that the government should be targeting superannuation tax concessions instead.
“These tax concessions are projected to rise to $50.7 billion in 2016-17, an increase of around 12% per annum. By this time superannuation tax concessions will be the single largest area of government expenditure. The overwhelming majority of this assistance flows to high-income earners. Low-income earners receive virtually no benefit,” Denniss said.

http://www.scribd.com/doc/219375618/Report-Sustaining-Us-All-in-Retirement-The-Australia-Institute

The age pension currently costs $39 billion and superannuation tax concessions will cost the budget around $35 billion in 2013-14. These concessions are projected to rise to $50.7 billion in 2016-17, an increase of around 12 per cent per annum.

 

[CM86]

Its not the pension that's proving expensive its the super tax breaks (the whole point of super was that it was meant to save money on the pension!).

So how will letting people access their super... not put more strain on pension?
Which of course will lead to the pension being decreased because "Australia just can't afford it. It isn't our fault idiots don't save for retirement"...

Tax concessions is a different matter.

Arr you against minimum wage, and penalty rates. But in support of dipping into super due to financial need?

 

[medusala]

Arr you against minimum wage, and penalty rates. But in support of dipping into super due to financial need?

The min wage and penalty rates are govt imposed. Super is someone's own money. They are completely different things.

It is entirely consistent to be against the first two and in favour of the third ie more freedom, less govt interference.

The Australia institute want a HIGHER pension by attacking tax breaks.

http://www.taxpayer.com.au/News/281...x_breaks_to_be_abolished_in_lead-up_to_Budget

The paper suggested that single pensions be lifted from 30% of male total average weekly earnings to 37.5%, with a concomitant lift in the partnered rate – raising the pension rate for singles from $21,108 to $26,273 a year and the pension rate for couples from $31,689 to $39,611 a year.
Denniss said a universal pension would create a more level-playing field among income groups and allow superannuation to remain without giving wealthy Australians “such a big tax break”.
“This system would cost $52 billion a year, almost 30% less than we spend on both the pension and superannuation tax concessions. Lifting the age pension by $5,000 a year and removing the overly generous tax break on superannuation would actually leave the federal budget $13 billion better off.”

 

[Power Raid]

I have mixed feelings about opting out of super.

On one hand, what is the point of super if it is soooo little that you can't retire on it anyway and life is too hard today as one can't make ends meet. They will need the pension regardless and perhaps today is more important than in 30 years, when you have a power bill, need for food and a school bill now.

On the other, contributing and putting away a % of one's money for retirement is important.


From a national perspective, over time, more and more Australians will be on lower real wages due to globalisation. So where do we draw the line and through bracket drop creep, more an more Australians will opt out. This places a retirement burden on the govt that it can't afford.

 

[JoseMourinho]

We can afford the pension? Let alone in 60 years?

That's great news. Will it adjust with the cost of living?

I thought you'd be against that.

They'll increase Age Pension age as per usual. They will not keep at 67.

 

[Maggie5]

Bill certainly has a skip in his step today, great retort to Bernardi this mornings door stop presser:
Cory To Bill, "at least I am honest Bill, not a fraud"
Bill to Cory, "at least I am not a homophobe"

One to Bill, Cory - Zilch

 

[Showbags]

Bill certainly has a skip in his step today, great retort to Bernardi this mornings door stop presser:
Cory To Bill, "at least I am honest Bill, not a fraud"
Bill to Cory, "at least I am not a homophobe"

One to Bill, Cory - Zilch

LOL there is a spring Bill's step atm. Starting to like the cut of his jib.

 

[Maggie5]

LOL there is a spring Bill's step atm. Starting to like the cut of his jib.

I like it very much but what i am like more is that an opposition is releasing more policies than the so called party in government.

At least we can have some time to mull over them without the spin.

Very interesting turn of events, opposition releases policies and government tries to break them down in the meanwhile who is governing?
Something wrong with picture.