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LOL, so why go with Boomer on rations.

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sholtz

2,266 Posts.

835

13/02/23

06:50

Post #: 66207251
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Originally posted by boomeronrations: ↑

"We pay tax on contributions and on earnings with regards to Superannuation"

Well , I for one , paid bugger all tax on my contributions , 15% mostly .
So my tax was discounted mostly by 35c in the dollar[ might even have been 45c for 1 or 2 years].

The earnings in the fund were taxed at 35c per dollar less than they would have been if they were outside super.

So , I didn't pay much tax going in or during , so zero tax after not justified.
I had the huge benefit of a much larger investment ''float '' , compounded for decades in a tax advantaged fund.
The community has paid much more than it needed to keep me off a pension , that I was never going to be on anyway.
Would have been a lot cheaper to give me the pension.
That is not to say that I agree with your sentiments regarding the limit.
Just not sure it goes far enough.
cheers

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LOL, so why go with Boomer on rations.
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