New Super Tax Forces Families to Rethink Inheritance Strategy

#SuperTax #EstateePlanning #InheritanceTax #AusNews #AIGenerated

https://thedailyperspective.org/article/2026-03-17-new-super-tax-forces-families-to-rethink-inheritance-strategy-4e03ea34

@spinopsys
#auspol #SuperTax

i’ve been trying to ignore this issue —the council tax argument is doing my head in, but this thread seems civil, so i’ll join in.

Self managed super funds were a rort looooong before the super fund tax guarantee
yes — privileged and rich should be paying more taxes, but don’t because they are better placed to take advantage of rorts like this

and yes, capital gains complaints are mostly the privileged classes just whingeing, but this does not make taxing unrealised capital gains the right answer.

everyday workers with money in industry super funds often see the value of their holdings fluctuate in response to events beyond their control, e.g. gfc or trumpenomics. we don’t want to establish a precedent of denying ordinary people in other areas because unrealised gains are suddenly fair game. by all means fix rorts, change the tax rates, but this is not the way to do it.
——-
council tax rates and capital improved values (CIV) are a red herring.

you can buy a family home with a CIV of $200 and the very next day get a rates bill for that amount. you did not personally “gain” or profit from the value and it is not in any sense “income”, earned or otherwise. council taxes are a property tax for services provided. the civ is sometimes reviewed upwards but is not really subject to everyday market forces. civ might influence market prices, but is not a major determinant.

a capital gain, in the other hand, is income intentionally derived from trading. the amount is calculated based on the latest price net of initial price, the holding costs, inflation and other rorts added by politicians in the housing market. it’s not based on the capital amount, it’s the increase.

Word Search Puzzle 479

Word List : #pocks #manfreda #eponyms #supertax #affrayer #dowsing #pieties #pupildom #sawing #venesia #fiendful #teacher #vampey #zambomba #pipelike #indues #larid #seahorse

http://karafinance.com/2024/02/27/word-search-puzzle-479/

Here at Woy Woy Underpass we are deeply disappointed with the announcement of the new Superannuation Tax for the wealthy.

We are dead against any thing at would see less rich Sydney siders take the time honoured tradition of retiring and immediately raiding their Super to buy a oversized caravan with all the luxuries, slapping a "Spending the kids inheritance" Sticker on the back and over loading it will with as much stuff they can fit and heading north on the F3 on a Friday afternoon only to get the death wobbles and jack knife it in the middle of Moony Moony Bridge. Much to the delight of of the commuter trying to make it home.

Or follow their GPS to Umina Caravan Park and immediately rip their roof off at Woy Woy Underpass.

#Auspol #Caravans #SuperTax #CanOpener #SpendingTheKidsInheritance #Retirement #tax #Superanuation #TrafficHazard #Overloaded #FridayFun #F3notM1 #BloodyTourists #WoyWoy #CentralCoast