Australia's 2014 Federal Budget

[Beeps]

I understand why the need for increasing the pension age, with the rising population age. I also wonder whether Australia has the baby boomer generation similar to the UK which is going to be a major problem over in the UK to the government.

 

I understand the argument that builders can not be expected to work till 70 however, usually they would have been in their trade for a long time and should really be taught how to prepare for their retirement so they can choose to take early retirement. It is also worth preparing for change in your career as you approach and age where you can no longer do your role. For example my dad was a window fitter but his health stopped him working to the standard he insisted on, therefore he branched into the management side of the company and developed skills there. Builders can teach and train apprentices, invest in a business employing others... Look at footballers and models, their careers don't last but the successful ones are the ones that build on their skills and change it continuously.

 

Most of us manage to have a few career changes throughout our lives too.

 

So how should a Builder be taught to prepare for their retirement?

[Bibbs]

I'm hoping for:

 

35 hour working week

7 weeks annual holiday

2 hr lunch breaks

 

 

Work for yourself and all those are doable.

[Johndoe]

So how should a Builder be taught to prepare for their retirement?

 

By placing their hard earned in superann at a more reliable level? TBh, I don't see why there's such a fuss about raising the retirement age. My understanding is that it only applies to the pension and by the time the raise takes effect, a majority will be relying on superann and not a gov't pension. Why shouldn't emphasis be placed on the individual to support themselves in retirement and individual (fiscal) responsibilty decide at what age one retires? There isn't anything that says you can't retire earlier, just emphasis on making you work longer if you haven't provided yourself the financial opportunity to retire earlier. My OH (age 54) has enough supernann to semi retire now, after only contributing for 19 yrs but chooses to work on, but if we as a one income family of migrants can manage that, why not those who've been in the workforce considerably longer? You reap what you sow, but then again, I wouldn't apply my reasoning to those poor buggers in low income jobs who can't make additional superann contributions, but those who are/were able, should be forced to do so, and not rely on the gov't/taxpayer to support their retirement if they choose to retire before they have provided for that retirement themselves.

[Parley]

Just watched the Federal Budget.

Joe Hockey was quite inspiring I thought.

 

But is the average Australian willing to look past self interest, in the knowledge that we all have to play our part in repairing the budget ?

 

Are we all selfish, just caring about the impact to our own wallets and purses or are we willing to make some sacrifices to ensure the prosperity of Australia for our children and grandchildren ?

[Harpodom]

Lets hope they get booted back to opposition, where they truly belong, in 2016

Just watched the Federal Budget.

Joe Hockey was quite inspiring I thought.

 

But is the average Australian willing to look past self interest, in the knowledge that we all have to play our part in repairing the budget ?

 

Are we all selfish, just caring about the impact to our own wallets and purses or are we willing to make some sacrifices to ensure the prosperity of Australia for our children and grandchildren ?

[Parley]

So self interest for you harpo ? I guess you are not a committed Australian yet so understandable.

 

What about the Aussies ? self interest or country interest ?

[Harpodom]

So self interest for you harpo ? I guess you are not a committed Australian yet so understandable.

 

What about the Aussies ? self interest or country interest ?

What about tax payers, don't they count?

[Surf N Turf]

Just watched the Federal Budget.

Joe Hockey was quite inspiring I thought.

 

But is the average Australian willing to look past self interest, in the knowledge that we all have to play our part in repairing the budget ?

 

Are we all selfish, just caring about the impact to our own wallets and purses or are we willing to make some sacrifices to ensure the prosperity of Australia for our children and grandchildren ?

 

I've always thought voting Labour better protected society as a whole, including my own family. Each to their own.

[flag of convenience]

As least ALP recognises there is such a thing as a society. Conservatives don't see past an economy. More lies with no cuts to ABC/SBS funding. The writing is on the wall. If you don't want to go down the American road of gross inequality, make sure they are held accountable for their lies and evicted to history come next election.

[flag of convenience]

Im moving to Asia where I wont have to pay any tax and will live like a king, and I may come back here for the 70 year old retirement...but will make sure I blow all my savings before I return..Sound sensible???

 

A few others doing the same thing I'd expect. Already lot's of Aussies in Asia so you won't feel lonely. Don't forget they'll tax you 25% on any property rental when abroad. Also you need to be living in Australia prior to claiming aged pension. Who knows what it will be like when required?

[Echidna66]

Just watched the Federal Budget.

Joe Hockey was quite inspiring I thought.

 

But is the average Australian willing to look past self interest, in the knowledge that we all have to play our part in repairing the budget ?

 

Are we all selfish, just caring about the impact to our own wallets and purses or are we willing to make some sacrifices to ensure the prosperity of Australia for our children and grandchildren ?

 

Time for another sheep dip I think...Bahhaaa..You are a Govts dream citizen...Will you follow all your herd through the rinse??

[Echidna66]

A few others doing the same thing I'd expect. Already lot's of Aussies in Asia so you won't feel lonely. Don't forget they'll tax you 25% on any property rental when abroad. Also you need to be living in Australia prior to claiming aged pension. Who knows what it will be like when required?

 

Cheers..Im in the oil and gas industry freelance, and can live anywhere...Thinking of going to the Philippines tax free for the next 10 years and then come back maybe to Oz...I dont work in Australia and get no super, so unfortunately the beauty of Australia alone wont keep us here..

[flag of convenience]

Just watched the Federal Budget.

Joe Hockey was quite inspiring I thought.

 

But is the average Australian willing to look past self interest, in the knowledge that we all have to play our part in repairing the budget ?

 

Are we all selfish, just caring about the impact to our own wallets and purses or are we willing to make some sacrifices to ensure the prosperity of Australia for our children and grandchildren ?

 

Perhaps we don't like being lied to. Even with an increase in tax to the over$180,000 in order to sell it, it remains a ideological budget by and large.

[Echidna66]

A few others doing the same thing I'd expect. Already lot's of Aussies in Asia so you won't feel lonely. Don't forget they'll tax you 25% on any property rental when abroad. Also you need to be living in Australia prior to claiming aged pension. Who knows what it will be like when required?

 

Flag...Can you tell me what you mean by this " Don't forget they'll tax you 25% on any property rental when abroad. - See more at: http://www.pomsinoz.com/forum/news-chat-dilemmas/211587-australias-2014-federal-budget-4.html#sthash.RlEQwmdm.dpuf

[flag of convenience]

Cheers..Im in the oil and gas industry freelance, and can live anywhere...Thinking of going to the Philippines tax free for the next 10 years and then come back maybe to Oz...I dont work in Australia and get no super, so unfortunately the beauty of Australia alone wont keep us here..

 

Good for you. Looks to be becoming an increasing greedy and self interested country. Friend of mine in Cambodia seems to have no intention on returning to stay. Another took early retirement to Thailand. Lots of choice out there. Even Europe has a couple of decent options.

[flag of convenience]

Flag...Can you tell me what you mean by this " Don't forget they'll tax you 25% on any property rental when abroad. - See more at: http://www.pomsinoz.com/forum/news-chat-dilemmas/211587-australias-2014-federal-budget-4.html#sthash.RlEQwmdm.dpuf

 

If you reside abroad (no longer resident in Australia)and rent out property that is the rate you pay. No escaping I'm afraid.

[flag of convenience]

By placing their hard earned in superann at a more reliable level? TBh, I don't see why there's such a fuss about raising the retirement age. My understanding is that it only applies to the pension and by the time the raise takes effect, a majority will be relying on superann and not a gov't pension. Why shouldn't emphasis be placed on the individual to support themselves in retirement and individual (fiscal) responsibilty decide at what age one retires? There isn't anything that says you can't retire earlier, just emphasis on making you work longer if you haven't provided yourself the financial opportunity to retire earlier. My OH (age 54) has enough supernann to semi retire now, after only contributing for 19 yrs but chooses to work on, but if we as a one income family of migrants can manage that, why not those who've been in the workforce considerably longer? You reap what you sow, but then again, I wouldn't apply my reasoning to those poor buggers in low income jobs who can't make additional superann contributions, but those who are/were able, should be forced to do so, and not rely on the gov't/taxpayer to support their retirement if they choose to retire before they have provided for that retirement themselves.

 

Rather reliant on the vulgarities of the share market though, unless manage your own. Not forgetting rather excessive fees even in bad years.

[wakeboard1980]

Good for you. Looks to be becoming an increasing greedy and self interested country. Friend of mine in Cambodia seems to have no intention on returning to stay. Another took early retirement to Thailand. Lots of choice out there. Even Europe has a couple of decent options.

 

And the people in industries earning very good money, whilst moving and living in countries where they pay no tax are any better? Bit hypocritical don't you think?

[Skani]

Joe Hockey was quite inspiring I thought.

 

 

Yes, I was quite inspired by his exhortation for "people to accept personal responsibility for their own physical health".

Good to know he'll be shedding all that weight...can't be good for his heart and blood pressure.

And giving up those cigars will do wonders for his lungs.

[Freckleface]

Rather reliant on the vulgarities of the share market though, unless manage your own. Not forgetting rather excessive fees even in bad years.

 

 

You always make comments like this about super FOC. Perhaps you should seek some decent financial advice because plenty of funds have performed consistently well over a long period and don't charge excessive fees.

[flag of convenience]

And the people in industries earning very good money, whilst moving and living in countries where they pay no tax are any better? Bit hypocritical don't you think?

 

Well it could also be argued that when even the higher earners are weighing anchor for cheaper climes we really will have a problem. Even with the best will of the Abbott posse, I somehow don't see those on the minimum wage and pensions unable to flee the country, somehow able to rescue us from this non crisis. So in that sense I do affirm.

[heyyu]

1billion a month is a drop in the ocean for a trillion dollar economy

[heyyu]

if i get it right single pensioners will lose 126 dollars a month

[Freckleface]

I actually don't think the budget is that bad.

[flag of convenience]

You always make comments like this about super FOC. Perhaps you should seek some decent financial advice because plenty of funds have performed consistently well over a long period and don't charge excessive fees.

 

Afraid they do charge rather excessive fees to which they have been taken to task about recently, and yes they did take a hit back a few years back. I follow my own strategies thank you. If a financial advisor was any good he'd be unlikely giving others advice. He'd be retired or building his own assets.