Ok, so I have a SMSF and bought $10K worth of SIR shares in August last year when they were trading at around 9 cents. These shares are worth substantially more, earning well in excess of the $100K per year limit.
Considering my SMSF owns these shares, will I now be screwed to sell and diverse these profits? Should I sell before August of before the Financial year or just hold and wait to get raped by the government in years to come.
I'm angry at our government for so many things but this is the icing on the cake. Dipping into peoples savings and retirements is not the right way to balance out their debt and for all the low income earner's who think they are exempt.... who's to say your money will be safe in the future?
By doing this, rich or not it only sets a precedent to repeat reforms for peoples saving for years to come. How will I ever feel comfortable about super when in 20 more years who knows what other reforms they will make to pillage my life savings.
They need to put an end to this and pledge that our super will not be messed with period. In 20 years time, the average annual salary will be well over $100K anyways, will these reforms be indexed to rise with inflation or capped to kill us forever?
I wasn't keen in super from the get go, essentially I would like to cash out my retirement now and live in Costa Rica.
