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bumskins, ehhh maybe. It's very much about 'give with one hand, take with the other' with both factions. For example, the Liberals proposed what you have posted. However, the CC caps used to be up to $100,000, before Labor reduced it to $50,000, then $25,000. Now they are making a big song and...

I try and be a glass half full kinda bloke, too. So I use the amendments as a reminder to not invest in super. Thanks! I'm glad I was able to make you laugh :).

MIW, legislation regarding super is tinkered with constantly by both Liberal and Labor, it's just the way it's done. You learn to accept it, even though Labor has made some of the most stupid amendments in the last couple of years, reducing concessional contributions being the big one. Long term...

Here is a good rundown of the proposed changes, for those that are interested. http://www.supercentral.com.au/smsf-news/414/reintroduction-of-tax-on-pension-assets

Hahaha, so true! Very well put, Rob.

redwing, surely you don't take that... guy seriously? Kochie is a puppet of his rich masters, merely a conduit for brainwashing the masses.

Why not? Do you think you're entitled to use taxpayer funded infrastructure post retirement? If so, then make your contribution. These costs don't magically stop just because you stopped working. In fact, retirees, self funded or not, are a HUGE fiscal burden on taxpayers and you want to make...

If you don't wanna pay tax, fine, then don't use: - footpaths - roads - public hospitals - any other infrastructure that is provided for with taxpayer dollars

The pension is income, not CG! If you sell an investment asset, do you think you shouldn't have to pay tax on the gain? As I have stated earlier in this thread, the tax free pension, introduced as a cheap vote grab by the Liberals, should be abolished immediately. It is unsustainable and...

CGT on assets held in super is 15% if the asset is held less than 12 months. If it is held longer than 12 months, the asset is eligible for the discount rate of 10%. From here: SMSF selling a property asset "During accumulation phase, if an asset is sold within 12 months of purchase, then...

What on earth are you talking about?

I had a female friend once, who used to always say 'I feel this... I feel that...' and I would say to her 'You know, just because you 'feel' something is a certain way, doesn't necessarily make it so. Time to come back and join us in the real world'. Another time, I was having a discussion...

lizzie, if you're game, have a look at the Centrelink website one day, at what is available for retirees. You would be amazed at what self-funded retirees are eligible for. I know a lot of people bang on about how useless financial planners are (and I mostly agree), but a good FP that knows...

MIW, if you don't like the idea of paying tax on your retirement earnings, don't use any of the facilities that are paid for and maintained by the taxpayer in your retirement. The cost of maintaining said facilities does not magically stop when you retire.

What part of 15% tax on earnings do you not understand? Also, you pay 30% tax on company earnings, from $1 (minus deductions, of course). So, based on my understanding of the proposal, if you have a SMSF in pension phase, and the pension earnings are equal to $100,000, then you pay no tax on...

'Baaaahhhhh! Tony Abbott said it was baaaaad, so it must be baaaaad. Baaaaahhhhh!'

No, it isn't peoples' money. It's the Government's way of swapping tax revenue to make people less dependant on pensions in retirement. In effect, the Govt. has said 'We will take less tax out of your earnings, but we are going to force you to save that money for retirement, so you aren't...

That's what I said in an earlier post. 'If you want to blame someone, blame The Leprechaun for introducing unsustainable super policy.' But see, here's the standard knee jerk reaction from SS Liberal supporters: 'This is so unfair! How dare Labor hit the wealthy like this!' If it had...

Hi Player, it's 5 members and all members must be trustees (or directors if the trustee is a corporate entity). Actually! You just reminded me of something. I will link below to a newsletter that I think anyone here who has or is thinking of setting up, an SMSF really needs to read. Well, the...