Should Gen Y and Gen X be punished for an ill-considered tax loophole invented by Howard to snag...Read More
Category: The Kitchen Table
John: Shares are riskier than Australian bank interest, right? Peter: Correct. John: It looks to me that the riskier investment gets the government support.Read More
The Kitchen Table: Penny the pensioner pays the kids’ private school fees with her franking credits pension
Brenda: So the government would give me $6,478 if I stopped working and owned shares instead.
Peter: Seeing that the dole is $14,305, you’d nearly be getting half the dole, Mum.
John: Didn’t Kelly O’Dwyer put some sort of limit on how much you could end up with in your super fund?
Peter: Yes. She capped it at $1.6 million. From 1 July 2017.
John: $1.6 million? How many years is that going to take if you’re only allowed to put in $25,000 a year?
Peter: Sixty-four years Dad.Read More
John: Our paymaster says we’ve got to get onto the “John Howard offset”. That’s the one that really pays out.
Peter: It’s the big one … it’s not like all the other offsets, this one is the only one you might be able to get in cash.