Superannuation Discussion + market volatility

[CaptJCool]

 

[nickfromeastryde]

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Somewhat ironic that they wait for rates to start coming back down before lifting this rate. Still was way too low and could not be justified post Covid.

 

[mrsterryn]

Somewhat ironic that they wait for rates to start coming back down before lifting this rate. Still was way too low and could not be justified post Covid.

Still unlikely to massively impact people except possibly those who have assets producing income that isn't deemed, eg defined benefits investment properties etc .

 

[mrsterryn]

Wow the September indexation for Centrelink has been released already

Indexation Rates September 2025

Some government payment rates and limits will rise in September 2025 as a result of indexation.

www.dss.gov.au

 

[QF WP]

It’s always released on 20 September (yesterday) and 20 March every year…

 

[mrsterryn]

It’s always released on 20 September (yesterday) and 20 March every year…

Ah yes but I mean the indexation rates are usually released early in the indexation month , not the month before .
Yesterday was 20th August

 

[QF WP]

What was I thinking (August/September) - yes, my understanding is that it is released early, as recipients like to know what their future income will be

Thanks for the link, I have sent it to my Centrelink clients.

 

[Brissy1]

Does someone know whether when transferring funds from one fund to another (both accumulation), whether tax free/taxed super balance proportions are transferred; logically it should but one can't rely on that.
Eg. you have 2 super funds with $100 in each, A is 50% tax free/taxable, B is 90% tax free/10% taxable. You transfer $20 from A to B. So I presume A proportions remain 50% , and B becomes 83⅓/16⅔% ?

(Note nothing to do with recontribution strategy)

 

[SYD]

Does someone know whether when transferring funds from one fund to another (both accumulation), whether tax free/taxed super balance proportions are transferred; logically it should but one can't rely on that.
Eg. you have 2 super funds with $100 in each, A is 50% tax free/taxable, B is 90% tax free/10% taxable. You transfer $20 from A to B. So I presume A proportions remain 50% , and B becomes 83⅓/16⅔% ?

(Note nothing to do with recontribution strategy)

That’s been my experience (they transfer in correct proportion).

 

[Quickstatus]

Does someone know whether when transferring funds from one fund to another (both accumulation), whether tax free/taxed super balance proportions are transferred;

The transfer proportion will be the same

If an account has 47.25% concessional and 52.75% non concessional, the same will be transferred. - ie 47.25% of transfer amount remains concessional and 52.75% of transfer amount non concessional . You can't request a transfer of only concessional or only non concessional

 

[Quickstatus]

Well it looks like taxing unrealised gains in super accounts is dead.

 

[Pushka]

Well it looks like taxing unrealised gains in super accounts is dead.

Not that it impacted me but the idea was a ridiculous thought bubble. Unrealised gains that could be a potential fail the next day. And no indexation.

 

[TheRealTMA]

Well it looks like taxing unrealised gains in super accounts is dead.

Was only a thought bubble by fanatics in tax dept IMHO.

 

[CaptJCool]

Was only a thought bubble by fanatics in tax dept IMHO.

No

It was Treasury

 

[TheRealTMA]

No

It was Treasury

Yes sorry! Treasury. Was never going to fly.

 

[Quickstatus]

Was never going to fly.

Almost flew until Chalmers's hero and subject of his PhD , Paul Keating told him to pull his head in

I believe Treasury is full of people who try to come up with ways to raise more tax. I don't believe there is a govt department who is tasked with advising government on how to reduce spending.

 

[CaptJCool]

Almost flew until Chalmers's hero and subject of his PhD , Paul Keating told him to pull his head in

I believe Treasury is full of people who try to come up with ways to raise more tax. I don't believe there is a govt department who is tasked with advising government on how to reduce spending.

Seriously though

We don’t have an issue increasing tax revenue …


In 5 years
It’s gone up some $247 billion off a baseline of $486 billion

That’s a whopping increase of 50% in 5 years …..

 

[Brissy1]

Seriously though

We don’t have an issue increasing tax revenue …

View attachment 475338
In 5 years
It’s gone up some $247 billion off a baseline of $486 billion

That’s a whopping increase of 50% in 5 years …..


View attachment 475347

I wouldn't mind if I could see a corresponding 50% increase in outcomes.

 

[andye]

How much tax is coming in from (very) affluent retirees though (particularly as CGT on super growth is effectively 0% after 60). Income tax pre-retirement is doing most of the heavy lifting.

Considering you potentially spend over 50% time retired as you do working, I'm not sure how sustainable this is from an intergenerational perspective.

People are living longer: healthcare and aged care support is expensive and (accepting my conflict of interest) could do with more funding

At least the aged pension bill should be going down.

The NDIS as currently working is a mess and not as intended. Hopefully the reforms deliver a more effective use of funds while still giving children with developmental issues appropriate help

I personally think more (non-submarine) defence spending is needed but opinions may differ