The Forum > General Discussion > Sounds like a great idea Bill, just 25 years too late.
Sounds like a great idea Bill, just 25 years too late.
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I am still lost. You pay into a govt; fund then the govt invests it so the owners can get 16 % return.
One super fund is Industry super fund and the other is retail super fund, which pays the best interest I have not got a clue. My super is in Term Deposits.
Wasn’t Abbott the champion of red tape removal.
Which Red Tape [ or rules ] would you like seen gone. The trouble with red tape removal is everybody would require different red tape to be removed. Then the nation would be lawless.
Super is a part of wages, and can not be removed that is effectively a pay cut, no one wants a pay cut. And workers are standing on their own two feet, and super stays, it is a compulsory national savings scheme.
That is good of you to worry about the extra that consumers have to pay. Tax incentives. That depends on what the incentives are and who benefits.
The quarterly Bass should not cause any problems, so long as cash register rolls are properly used. I did the Bass for 3 years and it took me 30 minutes each month to keep up with. As receipts cam in they were filed and tallied. I never had any trouble with Bass at all, it’s a better system than keeping hoards of paperwork.
Super has paid well all along, higher interest rates always have a degree of risk. Market fluctuations are nothing new as long as it does not happen when you are about to retire. Safe haven shift 5 years prior is the go, less if you are a gambler.
I can’t imagine Bill saying that, unless he was at the races and half pie eyed. Whatever it was it did not make mainstream media.
Besides you would have to know what the plan was in full. As it is at face value it is not good business to buy money from someone that you can get for far less.