CBO scores the big beautiful bill as a massive wealth transfer from the poorest families to the wealthiest. Of course….
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This is GOOD news. Appropriate use of a limited recourse borrowing arrangement to allow leveraged assets to achieve a better self-funded retirement outcome has been proven over and over by good financial advice. While an LRBA can be used inappropriately, punishing everyone for the misuse of a few would be overkill.The Greens might focus on what their constituents care about instead - climate change and sustainability.
LRBAs not on government agenda: Treasurer
www.smsfadviser.com
Treasurer Jim Chalmers said the government is not “considering” changing the LRBA rules for SMSFs despite the Greens’ push to ban it.0 CommentsComment on Facebook
A budget fix masquerading as government policy makes for BAD government policy. See what it will become: a massive government grab of super assets. Sneaking in because it only impacts the very wealthy today, it will likely hit ALL of our kids. Speak to your local member and stop this.
Div 296 is a budget fix | SMS Magazine
smsmagazine.com.au
The Division 296 tax is being introduced as a budget repair measure and not as a long-term superannuation policy and will affect many more people than estimated.1 CommentsComment on Facebook
When democracy fails to meet the needs of the average citizen, change is inevitable. Democracy is a living, breathing thing that requires participants to believe it works for them. Autocracy on the other hand, only needs force and violence to continue. Americans may come to regret and fear what they voted for.
Science Tells Us the U.S. Is Heading toward a Dictatorship
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As president, Donald Trump pretty much checks all the warning boxes for an autocrat. Last September Scientific American warned of Trump’s “nonsensical conspiracy fantasies,” that he “ignores t...0 CommentsComment on Facebook
Tax on wealth is not bad public policy, but a non-indexed tax on unrealised capital gains definitely is. The tax might only hit a few people today, but your kids will suffer if this passes.
Treasurer doubles down on $3m super tax
www.smsfadviser.com
Treasurer Jim Chalmers said the government has “made it clear” it has not changed its policy position on the $3 million superannuation tax legislation.1 CommentsComment on Facebook
Paying off your home might not be the right goal. Offsetting the loan is a good idea. Using the equity for other income is worth considering
Why paying off your mortgage could cost you in the long run
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It’s fair to say Australians have an obsession with property – it’s often considered a rite of passage to adulthood to buy our own home.After that, the next common goal is to pay down the mortga...0 CommentsComment on Facebook