#ATO using #AI #auspol #superannuation

https://www.smartcompany.com.au/finance/tax/ato-predictive-superannuation-underpayment-ai/

#Superannuation is a heavily rorted inheritance vehicle. It has evolved into a #wealth accumulation and transfer scheme that is exacerbating #inequality. #ausecon

https://www.macrobusiness.com.au/2023/07/superannuation-is-a-heavily-rorted-inheritance-vehicle/

#Pay #Superannuation

Friend, a contract nurse, completed last contract in October last year. Still waiting for last superannuation payments to be made! Has missed out on nearly 8 months of interest.

Super should be paid on the same day as pay, not complicated, just allows employers to make more money at workers expense. I can't wait for that law to be in place.

https://theconversation.com/government-will-require-bosses-to-pay-workers-their-super-on-payday-204759 About bloody time #Superannuation

Is your super money being invested into oil and gas?

"Australia’s 15 largest super funds have invested a total of more than $25 billion into new and expanding coal, oil and gas projects, according to an analysis from The Australian Conservation Foundation.

"One of the biggest offenders, AustralianSuper, had almost $10 billion invested in fossil fuel operations at the end of December 2022, the report finds."

https://reneweconomy.com.au/australian-super-funds-sink-25-billion-into-coal-oil-and-gas/

#finance #business #superannuation #AusBiz #AusPol #AustralianSuper #ClimateChange #ClimateCrisis

An estimated 275,000 #australian delivery drivers, disability carers, IT professionals, #education workers and other #gig workers are missing out on #superannuation contributions because they are defined as independent contractors. #uber #corporategreed

https://au.finance.yahoo.com/news/the-aussies-missing-out-on-400-million-a-year-001111049.html

#superannuation has become a taxpayer-funded inheritance scheme for the rich. Here’s how to fix it – and save billions #taxtherich

https://theconversation.com/super-has-become-a-taxpayer-funded-inheritance-scheme-for-the-rich-heres-how-to-fix-it-and-save-billions-202948

The government could save the budget billions of dollars by winding back generous #superannuation benefits that effectively produce “taxpayer-funded inheritance schemes” for the wealthy, a new Grattan Institute report argues.

The “super savings” report says such #taxbreaks now cost $45bn a year, or 2% of GDP, and will soon exceed the age pension costs. Two-thirds of the breaks go to the top 20% of income earners who typically are already saving enough for retirement.
#greed #taxtherich

https://www.theguardian.com/australia-news/2023/apr/03/super-tax-breaks-costing-45bn-a-year-are-inheritance-schemes-for-australias-rich-new-report-says

Industry Super #Australia previously called on the government to change the way #superannuation was paid because the current system allowed companies to underpay staff.

https://au.finance.yahoo.com/news/calls-for-major-superannuation-change-in-2023-budget-002650894.html

LNP disinformation, Super was never set for tax avoidance .. #AngusTaylor #LNP #PeterDutton #Disinformation #satire #Albo #Robodept #trust #wealth #superannuation #retirement #auspol2023

‘The Australia Institute shows that women earn $1 million less than men over their lifetimes, retiring with $136,000 less in superannuation (it is well past time to pay super on paid parental leave). So what does Opposition Leader Peter Dutton have to say about super today? That it doesn’t matter “whether you’ve got $30,000, $300,000 or $3 million in your super fund”, as he ratchets up his scare campaign against Labor’s “socialist” changes.’

Good piece from Rachel Withers.

#superannuation #iwd #aispol

https://www.themonthly.com.au/the-politics/rachel-withers/2023/03/08/gender-fray

#Super media panic over #taxingtherich | #MediaWatch #superannuation #Thisisnotjournalism #MurdochGutterMedia

https://m.youtube.com/watch?v=3XhWVenShnI

RT @TomRed43
That’s not a class war, this is a class war.
#RobodebtRC #classwarfare #superannuation #peterdutton #Robodebt #auspol #Auspol2023

It’s fantastic news that many Australians will be so filthy rich by 2055 that not only will they be able to contribute more to the treasury but never have to dip into the retirement welfare pool needed for those who actually need the support #superannuation #retirement

Super changes could affect 10% of people retiring in 30 years, Labor reveals

https://www.theguardian.com/australia-news/2023/mar/06/labor-super-superannuation-changes-newspoll-polling-support-crossbench-tax-breaks-for-wealthy?

@Drop_Bear

I don't care what value they agree deserves to pay a higher tax rate provided it treats people fairly.

AlboMP's plan doesn't! If they don't set a level & index it from the start then once again we'll see the same generation that's been given the lion's share all their lives, benefit unfairly.

#Auspol #superannuation

54% of conservative voters support the changes to #superannuation but many LNP MPs are too conflicted to do that.

With this kind of support from voters, it'll be difficult for the conservatives to oppose.

#Auspol

A commentator mentioned the other day that the changes were taking a little while to negotiate due to the difficulty of accounting for defined benefit pensions.

There was no suggestion at the time that these wouldn't be included in the government's limits on #superannuation balances.

#Auspol #pension

MSM are failing #Australian public by not giving basic fact and and analysis of the new #superannuation #tax change. Alan Kohler shows how it can be done by clearly communicating what is entailed.

https://thenewdaily.com.au/finance/2023/03/02/superannuation-tax-increase-alan-kohler/

Sneak peek
Rough for tomorrow's AFR fill-in-
All quiet on the Mosman front
https://patreon.com/glenlelievre
#Superannuation

The important reason the fed govt dropped the #superannuation decision this week, causing the Murdoch media to go into apoplexy, is that the Murdoch media have no energy left to keep up the noise about the #VoiceToParliament.