Australian Politics Forum - Go you old thing

mantra Gold Member Offline ozpolitic.com Posts: 10750 Gender:	Re: Go you old thing Reply #30 - May 18^th, 2008 at 8:49pm Quote: Are they generally taxed at a higher or lower rate than non-retirees? Senior couples aren't taxed until their combined income reaches $80,000 - so that's $80,000 tax free pa. A single person can receive up to $50,000 (I think) tax free.
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freediver Gold Member Online www.ozpolitic.com Posts: 47468 At my desk.	Re: Go you old thing Reply #31 - May 18^th, 2008 at 8:51pm Yes, they do seem to get a good deal on income tax, but I guess there's no harm in protesting for more.
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mantra

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Re: Go you old thing
Reply #32 - May 18^th, 2008 at 9:04pm

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Yes, they do seem to get a good deal on income tax, but I guess there's no harm in protesting for more

Greed has just escalated over the past decade. $80,000 tax free and it's still not enough for some. Single working people have to pay for this and what so many of these seniors have forgotten is that we still need to build Australia for future generations, not just think of making life comfortable for them.

There is a mentality where all these groups of people want to be rewarded for working - and they don't care who pays for it. There will be no largesse for our young people as they mature and the last government has ensured that they slave to sustain these bribes to the older generations.

I hope Rudd toughens up the means testing as quickly as possible. The screams of the greedy will be louder than those of the needy - that's a certainty.

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freediver Gold Member Online www.ozpolitic.com Posts: 47468 At my desk.	Re: Go you old thing Reply #33 - May 18^th, 2008 at 9:15pm It strikes me as a rather preverse incentive, given our labour shortage. Is it possible that some old people get more money by retiring than they would by working, because they are not taxed on interest etc?
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deepthought

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Re: Go you old thing
Reply #34 - May 18^th, 2008 at 9:15pm

mantra wrote on May 18^th, 2008 at 8:49pm:

Quote:

Are they generally taxed at a higher or lower rate than non-retirees?

Senior couples aren't taxed until their combined income reaches $80,000 - so that's $80,000 tax free pa.

A single person can receive up to $50,000 (I think) tax free.

What rot. Where do you get this nonsense?

freediver wrote on May 18^th, 2008 at 8:51pm:

Yes, they do seem to get a good deal on income tax, but I guess there's no harm in protesting for more.

You are more gullible than I thought.

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freediver Gold Member Online www.ozpolitic.com Posts: 47468 At my desk.	Re: Go you old thing Reply #35 - May 18^th, 2008 at 9:16pm Well, what do you think their tax rates are DT?
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mantra

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Re: Go you old thing
Reply #36 - May 18^th, 2008 at 9:29pm

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What rot. Where do you get this nonsense?

I may have made an error - but I can't find the site now where it gave those figures of $80,000 and $50,000.

I did find this in the Appropriation Bill 2006 - but I'm fairly sure it was upgraded sometime last year to the higher figures I mentioned.

Quote:

The tax offset is another measure for pensioners and senior Australians. Singles on an annual income of up to $25,867 and couples on an annual income of up to $43,360 will not be taxed. This is an excellent program for older Australians. They will be able to take advantage of the senior Australian tax offset. I commend this budget as one of the best Australia has seen.

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mantra

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Re: Go you old thing
Reply #37 - May 18^th, 2008 at 9:38pm

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From 1 July 2007, more selffunded retirees may become eligible for a Commonwealth Seniors Health Card. Changes being introduced from 1 July 2007 mean that some superannuation income streams will no longer be considered to be taxable income.

This may result in your taxable income falling within CSHC eligibility limits. The income limits are $50,000 per year if you are single,
$80,000 per year combined if you are a member of a couple, and $100,000 per year combined if you are a member of an illness separated couple.

http://www.dva.gov.au/vetaffairs/june2007/page7.pdf

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freediver Gold Member Online www.ozpolitic.com Posts: 47468 At my desk.	Re: Go you old thing Reply #38 - May 18^th, 2008 at 9:42pm Thanks mantra.
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deepthought

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Re: Go you old thing
Reply #39 - May 18^th, 2008 at 9:59pm

mantra wrote on May 18^th, 2008 at 9:38pm:

Quote:

From 1 July 2007, more selffunded retirees may become eligible for a Commonwealth Seniors Health Card. Changes being introduced from 1 July 2007 mean that some superannuation income streams will no longer be considered to be taxable income.

This may result in your taxable income falling within CSHC eligibility limits. The income limits are $50,000 per year if you are single,
$80,000 per year combined if you are a member of a couple, and $100,000 per year combined if you are a member of an illness separated couple.

http://www.dva.gov.au/vetaffairs/june2007/page7.pdf

This has nothing to do with tax. It is eligibility for a Commonwealth Seniors Health Card. If you keep saying it poor old freediver keeps believing it. Give the duffer a break.

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deepthought

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Re: Go you old thing
Reply #40 - May 18^th, 2008 at 10:05pm

mantra wrote on May 18^th, 2008 at 9:29pm:

Quote:

What rot. Where do you get this nonsense?

I may have made an error - but I can't find the site now where it gave those figures of $80,000 and $50,000.

I did find this in the Appropriation Bill 2006 - but I'm fairly sure it was upgraded sometime last year to the higher figures I mentioned.

Quote:

The tax offset is another measure for pensioners and senior Australians. Singles on an annual income of up to $25,867 and couples on an annual income of up to $43,360 will not be taxed. This is an excellent program for older Australians. They will be able to take advantage of the senior Australian tax offset. I commend this budget as one of the best Australia has seen.

It's not as simple as that. I already told you that the Seniors tax rules are subject to a number of parameters. To get this tax offset for example requires satisfying all of four separate criteria.

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Amadd

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Re: Go you old thing
Reply #41 - May 18^th, 2008 at 10:08pm

I've been away from the forums for a bit.
In reply to Ray_A:

Quote:

Well they are not children; they would like to be treated at least as well as the import taxi drivers that took their protest to the streets.

Quote:

Can you elaborate on this?

Well the taking off of the shirts by the pensioners was a parody of the (mostly) mid-east taxi driver protestors who to took the streets demanding better security in taxi-cabs.

I've nothing against what the taxi drivers were protesting about, but shouldn't we also spare a thought for those who have dedicated their working lives to the betterment of this country prior to the arrival of many of those taxi drivers which were granted their demands?

As Mantra said: "Superannuation was hardly even known of in their day".

The pensioners of today are the ones to thank for any prosperity that we currently enjoy. It's far from being "selfish" to demand a reasonably comfortable retirement.
I wouldn't give up Jackshit for the betterment of this greedy nation if their treatment is anything to go by.

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freediver Gold Member Online www.ozpolitic.com Posts: 47468 At my desk.	Re: Go you old thing Reply #42 - May 18^th, 2008 at 10:16pm This has nothing to do with tax. You brought it up DT. Do you remember making this complaint earlier in the thread? In fact he gave 'working families' a tax cut and an increase in the tax threshold but he did not do the same for pensioners who pay tax on earned income from interest.
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deepthought

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Re: Go you old thing
Reply #43 - May 18^th, 2008 at 10:39pm

freediver wrote on May 18^th, 2008 at 10:16pm:

This has nothing to do with tax.

You brought it up DT. Do you remember making this complaint earlier in the thread?

In fact he gave 'working families' a tax cut and an increase in the tax threshold but he did not do the same for pensioners who pay tax on earned income from interest.

The prosecution rests its case your honour and calls for the re-education of the offender.

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Amadd

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Re: Go you old thing
Reply #44 - May 18^th, 2008 at 10:59pm

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It strikes me as a rather preverse incentive, given our labour shortage. Is it possible that some old people get more money by retiring than they would by working, because they are not taxed on interest etc?

From where I stand Freediver, there is absolutely no labour shortage at all. The shortage is in the competitive pleb market.
Why have we been importing offshore labour when there are so many Australians who cannot afford to pay their mortgages? Because offshore labour is cheap and it drives down price of labour.
Meanwhile, the housing crisis is exasperated by this slave labour tactic.
Rudd is doing the same, although it's not widely advertised. He has projected a rise in unemployment and concurrently has scope for increased immigration.
He's probably got his Mrs. profiteering from some employment agency in Samoa.

As much as I wanted Howard out, I think Rudd has almost reached his use-by date. He's given most of what he was ever going to give to bluff some trust out of the voting public, and now I'd like to see a new leadership with some more substance.
In short, I always wanted to take what we can get from Rudd and then piss him off.

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