Fair point, however, do not dismiss the dire straits the present...

Fair point, however, do not dismiss the dire straits the present NEW BOYS are facing - sans safety net!

They just may grasp at straws like a drowning person (NDIS alone capable of sinking the country), in hopes of holding on and saving themselves - AT ALL COST.


Retrospective Laws



....and a lot more including statements to the effect of, "...well we told you in plenty of time for you to get your affairs in order." yada yada yada. These laws are usually spruiked using language such as taking action against "Criminal activity...", soothing the emotiveness of the thought that they may arrive at your door one day and accuse you of illegal activity yesterday that was legal today!


Even though not retrospective, the proposed legislation in relation to Super Funds (including SMSF), may put some in a very difficult and awkward position. For example, say a fund has a single real estate property as an investment which is valued at three million plus. Tax is due on unrealized gains over three mil. This may result in a forced liquidation sale if funds cannot be acquired to satisfy the tax and that may just be in a period of a depressed property market!

The powers that be could (and I have no doubt would), come after shareholders with the same result as above.

Nah.... They wouldn't do that! Surprise! They already are. I live on a small foreign pension with a dollar value thousands BELOW the poverty level here, but Centrelink cut my benefits years ago because of unrealised gains because they have an asset-based model. Just a tiny hop, skip and a jump over to the rest of the mob.

That the previous government was inept, no question. That the present is any better - I seriously doubt.

We've just gone from the frying pan into the fire.