The Coming Federal Election.

[mightyrooster]

Our Pay Rises were capped at 2.5% for a while - one year we received a 0.3% rise

2014/2015 to 2019/2020 - 2.5% per fin year
2020/2021 - 0.3%
2021/2022 - 2% plus 0.50% Superannuation increase
2022/2023 - 3% plus 0.50% Superannuation increase
2023/2024 - 4% plus 0.50% Superannuation increase
2024/2025 - 3% plus 0.50% Superannuation increase
2025/2026 - 3%

Federal public servants didn’t get a single pay rise through the whole of Abbott’s term and well into Turnbull. I think it was a 5 year wage freeze from memory. I’m the family minister for finance and do all our banking and financial planning. It was hard as the other half was only a low level public servant and school fees and orthodontics and extra school activities kept going up. He has benefited from a fairly good super package recently though because he started as a 19 year old and was in the old pension scheme which has long since been abolished. And no it is nowhere near $3 million!

[Paddo Colt 61]

I remember at the Railways as a 1st Year Apprentice Boilermaker/Welder we were paid $215 per week - $ 11.180.00 per annum - Free Travel

Currently

Manufacturing Award - Boilermaker/Welder Apprentices

• Aged under 17 years: $497.50 per week - $ 25,870.00
• Aged 17 to 20 years: $547.25 per week - $ 28,457.00
• Aged over 21 years: $796.00 per week - $ 41,392.00

Qualified Boilermaker/Welder Tradies wages between 75k to 95k

And if you look up wages for carpenters you $70 - $80p/a. Likewise tilers, plumbers etc. I have a friend who was head waiter at Mr. Wongs in the city. It's a Justin Hemmes swanky venue (nothing like Jax's local Chinese at Guilford). Friday and Saturday are the big cash nights. Tradies date night. Couldn't meet that tab regularly if on $80K.

* MR. I do agree an independant PS is essential to all of us. The potential for corruption when private enterprise is involved is concerning and PwC's performance makes that clear. Oh for the past when the PS was led by people like Nugget Coombs, the planner of post war Australia. Menzies didn't mess with it and Nugget's plan gave me and many other working class boys scholarships and a free university education.There are still people like him, brilliant administrators committed to the nation, never tempted by the big bucks .

Labor is restoring the status of the Service but I doubt that we'll see the end of consultancy. If the Libs get up we'll hear that PwC is very sorry, they just didn't pick up in time that they were passing on confidential information to commercial clients and they've promised never to do that again. The company will henceforth be on probation and there will be no warnings.

[King Salvo]

All should remember when Laboring on abolished Negative gearing which was such a disaster that they had to reinstate it - another example of confused Laboring on and the Lefties.

As far as superannuation goes - people need to contribute more when able to - When the Mortgage has been paid off especially

Personal Contributions limits

• The concession cap is $30k - pre tax contributions
• The Non Concessional cap is $120k - post tax contributions

I would actually scrap the cap for Non Concessional post tax contributions and the super account balance cap ( currently 1.9 million) and allow folk to put in as much as they wish into their nominated superannuation fund as after all they have paid tax on this - Should have a transition to retirement focus as well where folk can increase their super balances.

Back in the day for a period of time you could contribute 100% of your salary into a nominated super fund.

[King Salvo]

Not sure why but Capitalist Paddo reminds me of Lenny Pike (Jonathon Winters) the Van Driver from It's a Mad Mad Mad Mad World

Taxes....Everybody has to pay taxes

[Andrew Walker]

Oh Andy!!! Again, I am not talking about now. I am talking about generations into the future. I support the superannuation policy in principle but it needs to be worked on more before rushing it through parliament. I AM using my economics acumen and that of my financial advisor sibling in making up my own mind. I also have a reasonably good knowledge of superannuation. Have you heard f inflation and wages growth? It happens over decades and decades. $3 million in today’s money was probably worth $8 million in 1970. Also, I dislike news limited as anyone who reads my posts should know. I can’t stand Paul Murray, Bolt, Credlin etc and refuse to put any of them on my screen as they just cause my blood pressure to rise. I have Foxtel for the NRL, AFL and cricket. I have also stated that I hope Mr Albanese is returned to power as I do not want Duddon as PM and a return to the Abbott days. Please reserve your disappointment and disapproval for someone else.

Yes off your projection in many generations timesthere may need to be changes I’ll take an educated mathematical guess which I had before I posted what you responded to and say our kids nor the vast majority of those of school age unless they are in very high earning jobs will not hit the 3 million super mark upon retirement.

Your analogy of 3 million today being 8 million over 50 years ago strongly backs up what I have just said

A super balance of 750 today off your figures would be worth around 2 million. Now bearing in mind the vast majority of people will not accumulate that 750k now or that 2 million in 55 years time off your economic projections ( which I must add is not even close to the 3 million mark ) I’d say your comments are of the shock jock type

FGS your predictions on inflation wage growth and the like will see the vast majority of Australians nowhere near the 3 million mark in 55 years time, and that is based off a figure today that the vast majority of Aussies will not have in super upon retirement

[Rooster1908]

I remember at the Railways as a 1st Year Apprentice Boilermaker/Welder we were paid $215 per week - $ 11.180.00 per annum - Free Travel

Currently

Manufacturing Award - Boilermaker/Welder Apprentices

• Aged under 17 years: $497.50 per week - $ 25,870.00
• Aged 17 to 20 years: $547.25 per week - $ 28,457.00
• Aged over 21 years: $796.00 per week - $ 41,392.00

Qualified Boilermaker/Welder Tradies wages between 75k to 95k

Salvo what year were you a apprentice

[mightyrooster]

Yes in generations there may need to be changes I’ll take an educated mathematical guess which I had before I posted what you responded to and say our kids nor the vast majority of those of school age unless they are in very high earning jobs will not hit the 3 million super mark upon retirement.

Your analogy of 3 million today being 8 million over 50 years ago strongly backs up what I have just said

A super balance of 750 today off your figures would be worth around 2 million. Now bearing in mind the vast majority of people will not accumulate that 750k now or that 2 million in 55 years time off your economic projections ( which I must add is not even close to the 3 million mark ) I’d say your comments are of the shock jock type FGS your predictions on inflation wage growth and the like will see the vast majority of Australians nowhere near the 3 million mark in 55 years time

I haven’t done a proper crunching of the numbers admittedly. I couldn’t be bothered on a Sunday afternoon lol. And yes it’s unlikely to be my kids. Sorry for the hyperbole but there’s a lot of it about on this thread. My point though is safeguards need to be put in place. Government’s from all sides love tax revenue. Even those that oppose certain legislation when in opposition will gladly help themselves to the revenue bonus once in government. It’s like the old oh got to put those health warnings on cigarette packets but in the meantime we’ll keep collecting the excise of 60% or whatever it is. It probably costs the government less in health dollars to care for the damage smoking causes than the excise it receives from their sale. Or the GST. It’s more I don’t trust governments. As I said I have no problem with the policy in principle.

[Rooster1908]

Yes off your projection in many generations timesthere may need to be changes I’ll take an educated mathematical guess which I had before I posted what you responded to and say our kids nor the vast majority of those of school age unless they are in very high earning jobs will not hit the 3 million super mark upon retirement.

Your analogy of 3 million today being 8 million over 50 years ago strongly backs up what I have just said

A super balance of 750 today off your figures would be worth around 2 million. Now bearing in mind the vast majority of people will not accumulate that 750k now or that 2 million in 55 years time off your economic projections ( which I must add is not even close to the 3 million mark ) I’d say your comments are of the shock jock type

FGS your predictions on inflation wage growth and the like will see the vast majority of Australians nowhere near the 3 million mark in 55 years time, and that is based off a figure today that the vast majority of Aussies will not have in super upon retirement

If super of 750 k is only worth 2 m in 55 years time I would suggest you and everyone else invest either together or in a co operative in property .Doubles every 7 to 10 years so at that rate according to you property is a winner .Back on track but please Andrew

[King Salvo]

Salvo what year were you a apprentice

1979 - Public Transport Commission back then - changed to State Rail Authority

1st Year at the Apprentice Training College at Chullora
Second year - Elcar/Boshops/Eveleigh/Apprentice Training College
Third Year - Balmain Ferries/ Loco Workshops/ Valley Heights/Apprentice Training College
4th Year - Clyburn/Eveleigh/ Loco Workshops/Apprentice Training College

[Andrew Walker]

If super of 750 k is only worth 2 m in 55 years time For would suggest you and everyone else invest either together or in a co operative in property .Doubles every 7 to 10 years so at that rate according to you property is a winner .Back on track but please Andrew

I’ve used MRs figures But taking into account her economical acumen. I don’t think they are far off the mark My real point to it all is I think it will be a long long long time before most Australians get near that 3 million in super

Investment property is a winner but Capital Gains Tax is always a downer

Thank you for the advice 08 I’d be very interested to know more about investing in commercial property I believe if you sell as a going concern you are exempt from capital gains tax Is that correct ?

Yes we should remain on topic But this slight deviation is a spin off from the topic and I’m sure is not taking away the enjoyment of the site and is tolerable to others. As opposed to you and I or others trading witty barbs at one another

[Rooster1908]

I’ve used MRs figures But taking into account her economical acumen. I don’t think they are far off the mark My real point to it all is I think it will be a long long long time before most Australians get near that 3 million in super

Investment property is a winner but Capital Gains Tax is always a downer

Thank you for the advice 08 I’d be very interested to know more about investing in commercial property I believe if you sell as a going concern you are exempt from capital gains tax Is that correct ?

Yes we should remain on topic But this slight deviation is a spin off from the topic and I’m sure is not taking away the enjoyment of the site and is tolerable to others. As opposed to you and I or others trading witty barbs at one another

Yes I think you are correct but would need to confirm with our accountant.Commercial is of a much greater risk but is of a much greater return .

[King Salvo]

And if you look up wages for carpenters you $70 - $80p/a. Likewise tilers, plumbers etc. I have a friend who was head waiter at Mr. Wongs in the city. It's a Justin Hemmes swanky venue (nothing like Jax's local Chinese at Guilford). Friday and Saturday are the big cash nights. Tradies date night. Couldn't meet that tab regularly if on $80K.

* MR. I do agree an independant PS is essential to all of us. The potential for corruption when private enterprise is involved is concerning and PwC's performance makes that clear. Oh for the past when the PS was led by people like Nugget Coombs, the planner of post war Australia. Menzies didn't mess with it and Nugget's plan gave me and many other working class boys scholarships and a free university education.There are still people like him, brilliant administrators committed to the nation, never tempted by the big bucks .

Labor is restoring the status of the Service but I doubt that we'll see the end of consultancy. If the Libs get up we'll hear that PwC is very sorry, they just didn't pick up in time that they were passing on confidential information to commercial clients and they've promised never to do that again. The company will henceforth be on probation and there will be no warnings.

mmm the tradies we see don't go to such up market establishments.- Justin Hemmes had a problem paying his staff I recall

https://www.hospitalitymagazine.com....-former-staff/

Wow wait staff can earn more than Tradies - no quals required either- just 2 years Industry experience - mmm I wonder what the head waiter earns ?

• Competitive annual salary of $73,150 - $100,000

https://careers.merivale.com/job/Syd...00/1059452766/

[Random Rooster]

All should remember when Laboring on abolished Negative gearing which was such a disaster that they had to reinstate it - another example of confused Laboring on and the Lefties.

As far as superannuation goes - people need to contribute more when able to - When the Mortgage has been paid off especially

Personal Contributions limits

• The concession cap is $30k - pre tax contributions
• The Non Concessional cap is $120k - post tax contributions

I would actually scrap the cap for Non Concessional post tax contributions and the super account balance cap ( currently 1.9 million) and allow folk to put in as much as they wish into their nominated superannuation fund as after all they have paid tax on this - Should have a transition to retirement focus as well where folk can increase their super balances.

Back in the day for a period of time you could contribute 100% of your salary into a nominated super fund.

I recall Paul Keating stating that Howard's government's refusal to increase the employers' superannuation contribution from 9% to the next tier, which would eventually reach 15%, would ultimately result in a rise in the retirement age and exacerbate the funding crisis in aged care. Tick and tick

Mind you Keating delayed the second round of tax cuts promised during the 1993 election, opting instead to redirect the equivalent amount into superannuation contributions. In 1996, John Howard promised to pay that the second phase of the LAW tax cuts, which was 3% of wages, and would be put into personal superannuation accounts. That promise was broken. If this had happened, the mandatory superannuation would now be 15%. However under the Howard years company taxes were slashed companies despite the record profits they were already delivering and the economy ended up in surplus. 3 cheers for Howard and Costello....now work till your 67 and live off your meagre pension, because there is always someone who is getting duped and i can tell you its never ever the top end.

Incidentally, before all you Lib voters start carrying on with the bs trickle down economic lies that right wing media feed you ( like "employers create the jobs, without them you will be living in poverty"), there have been plenty of Labor governments between Howard and today who could have made it right again-but they didn't either- so they can root a boot too!

[Crab]

Like his namesake on Yellowstone I reckon it's Duttons election to lose . Albo is the least impressive, weak, un-statesmanlike Prime minister we've ever had. Wowhah it'll be good to see him gone. Bloody Pathetic !

[A Country Member]

Ohh mate, that's an easy one. The white Aussie bogan obviously. Cnts, what have they ever done for us? You and your mate sound like you're on the ball. Immi's are the good. They've never caused any problems here,

Well, if it wasn’t for your mate sending in the troops to bomb the fk outta their country, I’d hazard to guess that they wouldn’t have left their family and friends 12 years ago and be anywhere near here right now.