Australian Politics Forum - Superannuation rorts.

Bobby. Gold Member Offline Australian Politics Posts: 95276 Melbourne Gender:	Re: Superannuation rorts. Reply #15 - Feb 15^th, 2011 at 6:16pm Lisa Jones wrote on Feb 15^th, 2011 at 6:11pm: Over $80 million on GENERAL govt services?? I wonder what they mean by that item. That's $80 billion Lisa & on what? Just wasted money for public servants.
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Superannuation rorts. Reply #16 - Feb 15^th, 2011 at 6:16pm Sir lastnail wrote on Feb 15^th, 2011 at 6:15pm: Lisa Jones wrote on Feb 15^th, 2011 at 6:11pm: Over $80 million on GENERAL govt services?? I wonder what they mean by that item. it should be labeled more correctly as "wastage" My sentiments exactly Last Nail!
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Bobby. Gold Member Offline Australian Politics Posts: 95276 Melbourne Gender:	Re: Superannuation rorts. Reply #17 - Feb 15^th, 2011 at 6:21pm Hi Lisa - I am sure the Govt. could find some savings in there at least they could stop taxing superannuation when people make losses. What business do you know of that gets taxed on a loss? Answer = superannuation.
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Superannuation rorts. Reply #18 - Feb 15^th, 2011 at 6:21pm Bobby. wrote on Feb 15^th, 2011 at 6:16pm: Lisa Jones wrote on Feb 15^th, 2011 at 6:11pm: Over $80 million on GENERAL govt services?? I wonder what they mean by that item. That's $80 billion Lisa & on what? Just wasted money for public servants. Quite right .. $80 billion. Apologies for my typo.
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Superannuation rorts. Reply #19 - Feb 15^th, 2011 at 6:24pm And it's a large % of that expenditure budget too.
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Bobby. Gold Member Offline Australian Politics Posts: 95276 Melbourne Gender:	Re: Superannuation rorts. Reply #20 - Feb 15^th, 2011 at 6:38pm Lisa Jones wrote on Feb 15^th, 2011 at 6:24pm: And it's a large % of that expenditure budget too. A very large expenditure - there are too many people receiving welfare & too many public servants. That is why we are over taxed - even taxing people who lose money on superannuation!
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Superannuation rorts. Reply #21 - Feb 15^th, 2011 at 6:40pm It doesn't seem right Bobby.
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Bobby. Gold Member Offline Australian Politics Posts: 95276 Melbourne Gender:	Re: Superannuation rorts. Reply #22 - Feb 15^th, 2011 at 6:48pm Lisa Jones wrote on Feb 15^th, 2011 at 6:40pm: It doesn't seem right Bobby. It's making me cry Lisa I only found out about the superannuation rip off today.
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Superannuation rorts. Reply #23 - Feb 15^th, 2011 at 6:52pm Bobby .. you do realize I've come in here to recover from the vain babblings of the insane next door. So please don't cry on me lol Mind you I can hardly blame you to be brutally honest.
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Bobby.

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Re: Superannuation rorts.
Reply #24 - Feb 15^th, 2011 at 8:09pm

Lisa Jones wrote on Feb 15^th, 2011 at 6:52pm:

Bobby .. you do realize I've come in here to recover from the vain babblings of the insane next door.

So please don't cry on me lol

Mind you I can hardly blame you to be brutally honest.

Sorry dear,
I posted on the other thread:
http://www.ozpolitic.com/forum/YaBB.pl?num=1297749159/75

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Verge

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Re: Superannuation rorts.
Reply #25 - Feb 15^th, 2011 at 10:58pm

Sorry but the application of the law is correct.

Wanting to change it to suit super funds requires the re-writing of an entire system. Its not that simple.

Law is the law, and in this case it has been applied correctly. I wouldnt lose to much sleep though Bobby, the bounce back in funds in the last 12 months espically would have offset many if not all of these.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Bobby.

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Re: Superannuation rorts.
Reply #26 - Feb 16^th, 2011 at 8:56am

Verge wrote on Feb 15^th, 2011 at 10:58pm:

Sorry but the application of the law is correct.

Wanting to change it to suit super funds requires the re-writing of an entire system. Its not that simple.

Law is the law, and in this case it has been applied correctly. I wouldnt lose to much sleep though Bobby, the bounce back in funds in the last 12 months espically would have offset many if not all of these.

Verge - don't apologise for the rip off.
Theft is theft.

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Verge

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Re: Superannuation rorts.
Reply #27 - Feb 16^th, 2011 at 9:57am

Bobby. wrote on Feb 16^th, 2011 at 8:56am:

Verge wrote on Feb 15^th, 2011 at 10:58pm:

Sorry but the application of the law is correct.

Wanting to change it to suit super funds requires the re-writing of an entire system. Its not that simple.

Law is the law, and in this case it has been applied correctly. I wouldnt lose to much sleep though Bobby, the bounce back in funds in the last 12 months espically would have offset many if not all of these.

Verge - don't apologise for the rip off.
Theft is theft.

Its not theft at all. Its the application of the law as it has stood since the introduction of captial gains tax and I personally think its a fair one. I dont think people should be rewarded for selling capital at a loss by being able to offset it against other income.

No one else can do it and neither should a super fund.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Sir lastnail

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Re: Superannuation rorts.
Reply #28 - Feb 16^th, 2011 at 10:32am

Verge wrote on Feb 15^th, 2011 at 10:58pm:

Sorry but the application of the law is correct.

Wanting to change it to suit super funds requires the re-writing of an entire system. Its not that simple.

Law is the law, and in this case it has been applied correctly. I wouldnt lose to much sleep though Bobby, the bounce back in funds in the last 12 months espically would have offset many if not all of these.

the bounce back is pointless because as soon as another crash comes along it can take them a week to pull your money out of the market and by that time all of the potential profits have been lost Sad

It really is a low caliber form of investment which is exposed to all kinds of risk Sad

But of course the thieves running these super funds seems to like to help themselves no matter what happens to your money Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Verge

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Re: Superannuation rorts.
Reply #29 - Feb 16^th, 2011 at 11:09am

Sir lastnail wrote on Feb 16^th, 2011 at 10:32am:

Verge wrote on Feb 15^th, 2011 at 10:58pm:

Sorry but the application of the law is correct.

Wanting to change it to suit super funds requires the re-writing of an entire system. Its not that simple.

Law is the law, and in this case it has been applied correctly. I wouldnt lose to much sleep though Bobby, the bounce back in funds in the last 12 months espically would have offset many if not all of these.

the bounce back is pointless because as soon as another crash comes along it can take them a week to pull your money out of the market and by that time all of the potential profits have been lost Sad

It really is a low caliber form of investment which is exposed to all kinds of risk Sad

But of course the thieves running these super funds seems to like to help themselves no matter what happens to your money Sad

What annoys me more is they take a "management fee" based on your balance, and not the earnings they make you.

I would rather see someone take say, 10% of your earnings, as opposed to 1.5% of your balance. Make them earn their money.

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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Poll
Question: Do you feel ripped off by superannuation?
Yes 2 (100.0%) No 0 (0.0%) Total votes: 2 « Created by: Bobby. on: Feb 15^th, 2011 at 5:29pm »