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NEWS PAPER OR MEDIA ARTICLES, ANYTHING INTERESTING
nipper
post Posted: Mar 9 2019, 08:16 PM
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In Reply To: mullokintyre's post @ Mar 8 2019, 09:49 PM

QUOTE
Depending on which side of the debate you listen to, franking credit refunds are either welfare for the wealthy or an antidote to double taxation.

But the most compelling argument against Labor's proposal is that it produces different outcomes for retirees in the same financial position, depending on how they choose to invest.
- indeed (or how they have chosen to arrive at the retirement position.)

Triage - the Keating reference reveals a lot. Super has been in place for decades now.... and with time, differing outcomes occur, depending on investment decisions that then compound over the years. Some are better off than others.

Personally, I found the generosity in the legislation hard to resist. After all Economics 101 states:" People respond to incentives". But against that, why is the desire to be off the govt tit to be slapped down? And how hard will it be in pension phase to replace evaporated cashflow.

Besides, intergenerational wealth transfer is only partial. Minimum drawdowns increase with age, and taxable components are taxed at 15% plus Medicare



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 8 2019, 09:49 PM
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In Reply To: triage's post @ Mar 8 2019, 07:47 PM

I might have agreed with you if they got rid of all the refunds, but it is targeted at selffunded retirees.
The inustry and retail super funds will not lose out.
A purely political ploy.
Mick



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Said 'Thanks' for this post: early birds  nipper  
 
triage
post Posted: Mar 8 2019, 07:47 PM
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In Reply To: early birds's post @ Mar 8 2019, 06:48 PM

Because it is costing currrent taxpayers about $5b a year for starters. Because it is allowing lots of baby boomers to sit on their accumulated capital and live off "refunds" financed by current taxpayers rather than to gradually liquidate that accumulated capital. I actually spent time in the part of government that helped formulate superannunation policy in the Keating years and I don't recall that the purpose of superannuation was to allow people to retire, to live off the income from superannuation and hang on to the capital, and then pass it all on to the kids.



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog

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early birds
post Posted: Mar 8 2019, 06:48 PM
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https://www.afr.com/personal-finance/tax/th...y_Sent=08032019

Is it a "retiree tax" grab or an end to "welfare for the wealthy"? Labor's pledge to make franking credits non-refundable has become one of the most hotly contested issues in Australia.

Depending on which side of politics you speak to, the proposal is either a massive tax grab (the Coalition) or the end of a loophole that benefits multimillionaires (Labor)
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i don't like to showing my political views, but to aim at franking credit .......poooooo, it is bit too low. thumbdown.gif

people working hard when they ware young and safe bit more to fund little better retired life ,,,,how on earth Labor will target this part........




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henrietta
post Posted: Mar 2 2019, 08:23 AM
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In Reply To: mullokintyre's post @ Mar 1 2019, 02:33 PM

You have to be a bit careful with these venomous bites ........ bees, snakes ....... as the effect is usually cumulative, and the reaction gets worse each time you are bitten.
I remember Ram Chandra, venom collector, gradually deteriorating and eventually dying from numerous taipan ( and others ) bites.

Cheers
J

 
alonso
post Posted: Mar 1 2019, 02:35 PM
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In Reply To: mullokintyre's post @ Mar 1 2019, 01:16 PM

My bro-in-law has twice been bitten by brown snakes (Cowra NSW). He almost didn't make it the second time.

And yet here I am, on a wooded acreage, and in 30 odd years I've only seen one small black snake.

(But maybe they've seen me)






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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 


mullokintyre
post Posted: Mar 1 2019, 02:33 PM
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In Reply To: early birds's post @ Mar 1 2019, 01:34 PM

Its ok EB, it wasn't at the same time.
Up here in the GV, we have lots of snakes
I generally ignore them, but I ignored one too many when I stepped on it.
Gave me a nip through my socks. I saw the puncture marks and lgot my wife to mandage me up and headed for the hospital.
Spent a night in hospital feeling ordinary. But the doctors only give you anti venene if your breathing gets bad or lose consciousness.
They reckon the treatment can sometimes be worse than the bite.
I never got that bad that I needed anti venene, but geez I felt crook for a few days. Took me at least a week to get over it.
The redbacks are everywhere. The first time I got bitten, I dint even know about it till about an hour later.
I was shifting stuff to get an old pump out of the shed and must have left my fingers to close to one.
Fingers swelled up and was pretty sore, but nowhere near as bad as the snake bite.
Got other bites in subsequent years, but apart from swelling and redness, I got over them pretty quickly.
Mick



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early birds
post Posted: Mar 1 2019, 01:34 PM
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In Reply To: mullokintyre's post @ Mar 1 2019, 01:16 PM

Having been bitten by both a brown snake and a red back
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wholly crap Mick! ohmy.gif you just made my whole body hair stand up.................zhzzzzzzz!!

hi draughtsman, your sound you are really know that place well..... lucky you!! tongue.gif

nipper
i've seen red back in my front and back yard{{kill them with spry}----it is little in size. i'm amazed how can it take a relatively large snake down........ {something like "dog bites man"]



 
mullokintyre
post Posted: Mar 1 2019, 01:16 PM
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In Reply To: nipper's post @ Mar 1 2019, 12:30 PM

Having been bitten by both a brown snake and a red back (the latter more than once), I will take my chances with the redback anytime.
Mick



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nipper
post Posted: Mar 1 2019, 12:30 PM
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In Reply To: draughtsman's post @ Mar 1 2019, 12:19 PM

Hard to know if one Aussie critter taking out another Aussie critter is soothing for the tourist promotion angle !?



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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