Sent: 29-11-2011 10:32:05
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Employers Will Pay Super Guarantee Increases!
Does anyone really know which planet the Canberra Press Gallery is on? This question occurred to me when they expressed surprise that the new legislated Super Guarantee increases would be predominantly funded by employers who, shock, might ask employees to take lower wages.
Where did they think the money was coming from - the pot of gold at the end of a rainbow?
About a year ago someone said to me that within most legislative and regulatory changes there are groups of winners and losers but how often do you hear about them in the Press? It takes time and effort to understand what impact each new law will actually have and not many journos seem to have the time, resources or knowledge to do adequate research.
Perhaps this is one of the reasons why from a Parliamentary coverage perspective they seem to spend more time on personalities and leadership machinations. Am I the only person who has found this aspect of the media's commentary of the political landscape as boring?
In their defence however the Parliament does pass an awful lot of legislation as well as all the other material that is issued such as Tax Office documents. But some of them don't seem to do even rudimentary research and no doubt those pushing for the SG increases were pointing out the wage/SG increase trade-off.
Anyway at long last I've done some research of the new post carbon tax individual income tax rates. Taxpayers will have an average tax rate of 15% when their taxable income is about $50,000 - up from the current $48,500. This doesn't take into account the medicare levy and the carbon tax itself.
In any event these tax changes make super even less attractive than was already the case for many low and middle income earners.
Finally please consider purchasing a copy of this book "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne
For details of the changes made from version 4 to version 5 visit: http://www.atcbiz.com.au/r.php?r=d5xcpch
As you'll see from the list there have been many changes.
Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb
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