Hang on, didn’t this mob run an election on not messing with retirees and super?

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Pessimistic

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for mine, they should take this to an election, which is not that far away

in any casee this governments actions are exhibit number 1 why a minister should not be able to interfere in superannuation day to day investment

I also fail to see a problem so bad that these reforms could not be taken to an election


 

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TheBrownDog
Oct 15, 2004
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for mine, they should take this to an election, which is not that far away

in any casee this governments actions are exhibit number 1 why a minister should not be able to interfere in superannuation day to day investment

I also fail to see a problem so bad that these reforms could not be taken to an election



banning superannuation funds being used to fund unions doesn't seem unreasonable. unions should fund themselves from union fees not people's retirement funds, especially when they do not have a say in the matter.
 

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Pessimistic

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banning people going overseas doesnt seem unreasonable. People should be happy to be locked in to such a fine country, especially when others are perfectly happy to be locked in.

Its about not giving power to a government who seems intent on screwing it as much as possible, not doing the right thing
 

Gough

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In the middle of a pandemic we have this ******* government firing off more culture war bullshit like this. Talk about cancel culture, this Bill epitomises it, union super consistently outperforms all others. Somehow the self proclaimed superior economic managers don't seem to get this. That, and don't be nasty to the fossil fuel industry, Matt Canavan will cry.
 

Ned_Flanders

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banning superannuation funds being used to fund unions doesn't seem unreasonable. unions should fund themselves from union fees not people's retirement funds, especially when they do not have a say in the matter.

what entities are allowed to own super funds then? are you prohibiting only unions, or any other type of organizations?

there is already a mechanism to manage this, self choice super. if you dont want to be a member of a union owned super fund, go to one of the many others out there

love how the free trade people are in favour of free trade, except when its against their preferences
 

NSWCROW

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STURT - LIVERPOOL
LOL

You expect the people who forgot about the libs knifing TWO pm's within 8 months of the 2nd knifing to actually REMEMBER things ????



Funnily enough, Labor doing the same thing didn't seem to be forgotten.
Amazing what you can accomplish when you have 3/4 of the media backing you.........................
 

Stan_Darsh72

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banning superannuation funds being used to fund unions doesn't seem unreasonable. unions should fund themselves from union fees not people's retirement funds, especially when they do not have a say in the matter.
If people want their super to fund unions then "the party of the free market" must allow it to happen.

That is the joy of free market capitalism freedom of choice.
 

Pessimistic

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Yes a union is not in itself a socialist construct. In fact they were outlawed in communist block countries

anyway it’s a diversion from the matter in hand.

giving unfettered powers to a political figure - it works both ways
Not taking such a fundamental change to what is now a ‘pillar’ of society to an election
 

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TheBrownDog
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Then take it to an election. If its 'unreasonable'

for anyone else t siphoning funds out of people's retirement is called corruption, stealing or at best inproper use of funds. it is only reasonable that superannuation funds are used for the purpose of investing for retirement. This is why they have special tax treatment.

If they want to become operating entities for the purposes of unions or any other entity, superannuation should lose its tax status just as a family trust or unit trust would.

and no it does not need to be taken to an election as this principle is in place for ordinary trusts already.
 

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TheBrownDog
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If people want their super to fund unions then "the party of the free market" must allow it to happen.

That is the joy of free market capitalism freedom of choice.



true and that's fine for the entity to make it's own decision but you have identified the wrong issue at hand and thus the wrong position

I'm comfortable with your idea but....
1) there should be full disclosure and members have a choice
2) the tax rate changes to that of an operating entity rather than a retirement fund

this is about full disclosure and tax status.........not free markets.
 

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TheBrownDog
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what entities are allowed to own super funds then? are you prohibiting only unions, or any other type of organizations?

there is already a mechanism to manage this, self choice super. if you dont want to be a member of a union owned super fund, go to one of the many others out there

love how the free trade people are in favour of free trade, except when its against their preferences

again you have identified the wrong issue

people can put money where they like. funds can siphon money where ever they like

but don't expect to be a superannuation fund with favourable tax treatment, if you are no longer just carrying out superannuation activities and instead become an operating entity
 

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Ned_Flanders

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again you have identified the wrong issue

people can put money where they like. funds can siphon money where ever they like

but don't expect to be a superannuation fund with favourable tax treatment, if you are no longer just carrying out superannuation activities and instead become an operating entity

So unions can't have that treatment but CBA can?
 

Gough

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So on one hand we have Sqotty saying that we shouldn't expect a pension in the future and on the other we have him trying to get rid of the best performing super funds in the country because it means the "right" people don't end up sitting on boards. This just makes no sense whatsoever.
 

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TheBrownDog
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So unions can't have that treatment but CBA can?


Tax and or tax structures doesn’t work that way. They do not discriminate based on who but rather what.

A super scheme is 15%
An investment trust is 0% if all profits distributed otherwise taxed the highest rate plus Medicare
A company is 30%

But a trust that becomes an operating trust is 30%. So if super funds become operating, then they lose their super status.
 

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TheBrownDog
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So on one hand we have Sqotty saying that we shouldn't expect a pension in the future and on the other we have him trying to get rid of the best performing super funds in the country because it means the "right" people don't end up sitting on boards. This just makes no sense whatsoever.



That is not the case

How did you come to that understanding?
 

Stan_Darsh72

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true and that's fine for the entity to make it's own decision but you have identified the wrong issue at hand and thus the wrong position

I'm comfortable with your idea but....
1) there should be full disclosure and members have a choice
2) the tax rate changes to that of an operating entity rather than a retirement fund

this is about full disclosure and tax status.........not free markets.
I have full disclosure with my superfund, however if Frydenberg gets his grubby mits on it my returns will be diminished because my fund is not investing into fossil fuels.

My free choice of my own Super is now under threat by the LNP. Those campaigners want to touch my super, then they should be prepared for me to get my freedoms back
 

Gough

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I have full disclosure with my superfund, however if Frydenberg gets his grubby mits on it my returns will be diminished because my fund is not investing into fossil fuels.

My free choice of my own Super is now under threat by the LNP. Those campaigners want to touch my super, then they should be prepared for me to get my freedoms back
But unions Stanley, UNIONS!!!!!
 

Elroo

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I have full disclosure with my superfund, however if Frydenberg gets his grubby mits on it my returns will be diminished because my fund is not investing into fossil fuels.

My free choice of my own Super is now under threat by the LNP. Those campaigners want to touch my super, then they should be prepared for me to get my freedoms back
It's almost like we need a Royal Commission into the banking and superannuation industry, oh wait!
 

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TheBrownDog
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What other reasons can you come up with rather than ideological f***wittery?

as highlighted above it has tax implications

further you can't use your superannuation to buy dope, hire whores or any other purpose than investing for retirement. If people want to give money to unions, then pay union fees or give donations. Paying fees to unions out of your super is not appropriate use of funds.
 

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