Lithium Related Media Articles, page-17933

I lied. 0ne last post.

Nobody needs more than 3 mil in super? Probably true, but if you so happened to be in this fortunate position wouldn't you rather have choice on where the money is spent?

To show you how easy it would have been for LTHs to be over the proposed caps.

2,000,000 LTR shares bought for 2cps = $40k. Those shares are worth $5.4mil today. Well over the proposed cap.

Let's pretend the caps were in place already when the LTR share price went from $1 to $2 in that financial year. So your LTR shares went from being worth $2mil to $4mil. You are now $1 mil over the cap. You are told you owe the government 30% of $1mil tax on unrealised gains. You leave the decision to pay the tax until it is due. In the meantime the share price drops to $1. You are forced to sell 300,000 LTR at $1 to pay your tax obligation. You are now left with 1.7mil LTR shares valued at $1.7 mil. Just last year you had $4mil in your super.

I think everyone can see how this will change the investing landscape for super. Investment decisions will have to change.

I am also concerned the new system will create even further opportunity for price manipulation in the market for those that might try this practice.

My personal situation is I am over the caps but do not live a rich lifestyle. I don't even own a personal home. I was hoodwinked into believing that if I put everything I was allowed into super I would one day be wealthy enough to support my family, extended family and then the charities I choose. I was looking forward to that day. I had calculated I could do this through either the dividends I would receive or through share sales. I had planned to give a lot of money away. This was my dream.

With the sudden rule changes I won't be able to help the people I thought I could anymore. My choices have been taken away. The sacrifices weren't worth it in retrospect. All imo.

Over and out.

G