Political Backflips And The Like...

[POWERZONE]

Happy enough. The idea was good but a retrospective tax is a cardinal sin. What were they thinking?

[Aloysius]

Retrospectivity is misused intentionally in this debate - not by you of course but by those whomake that false claim.


No policy of changing past super contributions was ever contemplated.

[POWERZONE]

Well... it was the retrospectivity element that raised the ire of the backbench which ultimately killed the policy.

I sold some property in 2007 and put in around $440k from that into my super.

Under this policy I'm restricted for life to putting in no more than $60k (total $500k) before I get taxed.

This is because the cap was back dated to 2007 under this policy and that's the bit I disagree with.

The best way to have done it is limit contributions on a yearly basis as it is now but alter the cap amount based on the relevant conditions.

The trouble with changing super is people lose confidence in the system and stop contributing extra money which creates a bigger burden on the pension system.

[Aloysius]

I see, but on the plus side folks retiring with bigger and bigger superfunds - good thing which should drive confidence in the system.


All systems must be adapted over time to changing circumstances - the alternative is to be crippled by outmoded systems.

[POWERZONE]

1 day ago... Malcolm Turnbull rules out Royal Commission into banks

Today... Malcolm Turnbull announces Royal Commission into banks

[JSmith]

https://www.youtube.com/watch?v=m0ufUSVS...e=youtu.be

 

JSmith  :ph34r:

[radioholic]

Did I hear this right that The National party want Barnaby Joyce back as there leader?? 

[POWERZONE]

Did I hear this right that The National party want Barnaby Joyce back as there leader?? 

 

Yeah... this govt is as stable as a co
ck in a sock.

[radioholic]

 

Yeah... this govt is as stable as a co
ck in a sock.

 

 

What are they thinking?? No one likes the man.