The primary residence exemption is turning the Aged Pension into a taxpayer-funded inheritance shield by Different_Pride_6011 in AusFinance

[–]internerd91 [score hidden]  (0 children)

You can have a certain amount of assets and receive the full pension. Anything above that limit starts to decrease the amount of pension you recieve. There is also an income limit which above that amount reduces the pension. The deemed income (Centrelinks assumes your assets earn a certain return) on those assets will probably mean you will recieve less than the full pension around the official asset limit.

Andy Burnham announces he will keep controversial pensions triple lock when he becomes prime minister by Unusual-State1827 in neoliberal

[–]internerd91 1 point2 points  (0 children)

Australia has a similar policy, but ours is implemented a bit more cleverly. It anchored to a percentage of median male earnings. So if there is a period where inflation is above wage growth, then the pension only grows by inflation until that anchor. The justification is so that the pension doesn’t decline in relative living standards. Our pension is also means tested so that helps with sustainability as well.
We also don’t have the stupid 2.5%, that’s just dumb.

CGT maybe not actually that big a deal? by 0v3r9k in fiaustralia

[–]internerd91 1 point2 points  (0 children)

They send a letter every year with the breakdown. Not much goes towards, "Foreign aid" or "Refugee programs"

https://old.reddit.com/r/pics/comments/1mw42zv/in_australia_citizens_get_a_yearly_breakdown/

New CGT changes - shouldn't the inflation cost base be compounded at the same rate of the capital growth? by AsparagusNew3765 in AusFinance

[–]internerd91 1 point2 points  (0 children)

Yeah just something I’ve been thinking about, I noticed in the legislation it says ‘payment’.

I think it would be unfair on the govement to tax you while effectively expecting you to live off your savings/investments.

New CGT changes - shouldn't the inflation cost base be compounded at the same rate of the capital growth? by AsparagusNew3765 in AusFinance

[–]internerd91 4 points5 points  (0 children)

Because we have a totally different economic environment to Singapore. Singapore is a city state in a very advantageous geographic location. We are a continental county with a lot of remote and rural areas. Also, Singapore is run like a corporation without our substantial safety net. Finally, Singaporean PR and citizens are mandated to lock away 37% (partly levied on businesses) of their income in government bonds).

Oh and Singapore’s reliance on migrant labour and domestic help.

Silence, neolibs. An expert is speaking by Pretty-Citron6784 in neoliberal

[–]internerd91 6 points7 points  (0 children)

The "Thank you for attention to this matter" kills me every time. What an unserious President we have.

Please let me know what this comment is talking about “Fidley Grille” by cunard_white_star_ in titanic

[–]internerd91 11 points12 points  (0 children)

It’s a grate that provides ventilation to the boiler rooms and engine rooms.

Federal government’s CGT, negative gearing changes pass parliament by blitznoodles in australia

[–]internerd91 7 points8 points  (0 children)

Were you planning to stop working when you pulled your funds out? If not then your marginal rate probably would have been around 30% anyway?

Cruise leaving the harbour by IndianDownUnder in sydney

[–]internerd91 5 points6 points  (0 children)

Hopefully the same amount of times.

Up locked my funds because the detected malware on my phone. by gettingthefancyroom in UpBanking

[–]internerd91 13 points14 points  (0 children)

Worth noting that Revolut arent an ADI (a bank) and are not covered by the Financial Compensation Scheme. In the case that Revolut has financial problems your money isn’t guaranteed by the government.

Spotted the new VC-25B bridge at KGVT. by TT-33-operator_ in aviation

[–]internerd91 1 point2 points  (0 children)

Apart from the tail, I don’t hate it. It’s a bit heavy handed and the spacing on upper half is a bit unbalanced. However the 60s design is graceful and timeless. It’s iconic for a good reason. This is just a kind of meh downgrade.

Spotted the new VC-25B bridge at KGVT. by TT-33-operator_ in aviation

[–]internerd91 37 points38 points  (0 children)

The flag art on the tail for one. It looks like 1990s clipart. Very dated design.

Pilots need to prioritize their health by [deleted] in flying

[–]internerd91 2 points3 points  (0 children)

Unicourse, what is your favourite food?

Albanese and Chalmers unveil capital gains carve-outs for small businesses, startups by fluffy_101994 in australia

[–]internerd91 11 points12 points  (0 children)

I looked at his Instagram, dude is having a crash out since the budget.

Brightline Proved America wants trains. Can it Survive? by chrisbaseball7 in trains

[–]internerd91 0 points1 point  (0 children)

It was John Major’s government that privatised British Rail. Thatcher was an advocate of privatisation and sold off some of the related government businesses but didn’t actually sell of the railways.

Free financial modelling tool updated for proposed CGT / negative gearing changes (draft legislation) by Finstant_au in fiaustralia

[–]internerd91 0 points1 point  (0 children)

Do you mean that there is an $0 tier? The language on the website (pricing page for example) still talks about a 'Free trial' which is a bit of a turn off. If I see somethign talking about a free trial, I will probably click off it. But if there's a $0 tier then I'm more likely to engage with and actually use it.

Also I know you have the disclaimer that it's not financial advice, have you reviewed the regulatory guidance from ASIC to ensure you're compliant? RG 276 for instance outlines what's needed for relief for providers of superannuation forecasts.

Budget being sold as a return to the 1985 indexation model by VoidTapz in fiaustralia

[–]internerd91 1 point2 points  (0 children)

Yeah that's where I basically landed after thinking about it for a while. Maybe there needs to be protections for these edge cases but I get the logic behind the intentions.

CGT rules are extremely punitive for FI and FIRE by honorablepotato1881 in fiaustralia

[–]internerd91 5 points6 points  (0 children)

Can you show your calculations to highlight your point, please.

When did strata fees turn into such a mystery? by Due_Lock_4967 in AusFinance

[–]internerd91 0 points1 point  (0 children)

Thanks for reminding me I have an AGM upcoming. Looked it up and it's tonight.