26th Jun 2016
Deeming rates in detail
Deeming rates in detail

Indexation to the deeming rate thresholds that apply to Centrelink's assessment will apply from 1 July 2016

Deeming rates from 1 July 2016

Family Situation

Assets Threshold

Rate of Deemed Income

Single

$0 – $49,200

1.75%

Above $49,200

3.25%

Allowee Couple - per person (1)

$0 – $40,800

1.75%

Above $40,800

3.25%

Pensioner Couple - combined (2)

$0 – $81,600

1.75%

Above $81,600

3.25%












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    COMMENTS

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    Rosscoe
    27th Jun 2016
    10:22am
    Big deal! This lousy federal government has already slugged pensioners in January 2016 - in our case, my partner and I lost 22% of our pensions. Great way to abuse the elderly. Wake up, seniors!
    Fredklaus
    27th Jun 2016
    10:36am
    agree
    MICK
    27th Jun 2016
    10:43am
    This is but one of several ways the current government are trying to hit pensioners on the head and get them to sell their homes and live off the proceeds. I sincerely hope that older Australians punish this most deceitful and corrupt of all governments.
    It would be wonderful if the polls were completely wrong and the retirement community devastated the current government. I fear however that most people are set in their (voting) ways and will vote for exactly what is harmful to them. I hope I am wrong.
    Alexii
    27th Jun 2016
    12:23pm
    See the Senior United Party of Australia Facebook page for their policies.
    HarrysOpinion
    27th Jun 2016
    12:34pm
    And; the members of this federal government with homes worth over a million dollars and investments will retire with a generous government paid life time pension plus very generous superannuation plus expenses paid for by tax payers while more and more age pensioners of the common class will fall in to greater poverty.
    MICK
    27th Jun 2016
    12:54pm
    Had a look Alexii. Not much on the website (a half page blurb!) so not sure if the Party is independent of Labor and/or Liberal.
    Might be worth a punt although better Independents available.
    Anonymous
    29th Jun 2016
    10:19am
    Read the Pirate Australia policies. I never thought I'd take an interest in a party with a name like that, but their policies are right on the money - a breath of fresh air that we badly need to restore the health of Australian society and the economy. And YES, they show respect for senior Australians - unlike the major parties.
    Old Geezer
    29th Jun 2016
    10:37am
    It is interesting that the Pirate party is listed under Rrrrrrrrrrrrrr.

    Seniors will just have to stop recording the sounds tracks off YouTube videos for their road trips. Definitely a plus for seniors.
    buby
    3rd Jul 2016
    7:21am
    oLD gEEZER, lol yeh that is funny. and bugger i'm so disappointed i got to read this a bit late, as it didn't get into my inbox till after i voted, otherwise i'm sure i would have voted differently........Cause that name the Pirate party, PUt me right offf lol.
    But Pauline hanson party is excellent too, i thought :) have a good weekend all
    shutzy7
    21st Jul 2016
    1:26pm
    ROSSCOE
    HELP PLEASE !
    WHAT HAPPENED IN JAN 2016? LIKE U, MY PENSION REDUCED BY 20% ??
    PlanB
    22nd Jul 2016
    5:44am
    Rosscoe -- was that because of the stopping of the % of male wage thing that Abbott brought in?
    snoopy
    27th Jun 2016
    10:43am
    and ditto
    The Phonse
    27th Jun 2016
    11:19am
    We can't win regardless who is in control. They are all out to get us pensioners.
    MICK
    27th Jun 2016
    11:27am
    This is precisely why a high Independent vote is expected and both sides are shaking in their boots. Whilst we play their game they win. If we send them a clear message we win. It's pretty basic. All that is needed is for voters to step out of their well defined comfort zone and that is what many are unable to do and what keeps the bastards in power with their policies which cannibalises citizens.
    Brue
    27th Jun 2016
    12:01pm
    It is very sad to say , that even if many independents win , they will still be out numbered by the big parties. the independents won't be able to get any thing passed. Who ever is in power will not support independents through spite. There will be 3 years of turmoil.
    MICK
    27th Jun 2016
    12:21pm
    The last 3 years have been anything else other than "turmoil". Had it not been for Independents YOU would have had a co-payment (new tax), higher cost of medicine and a number of other medical add-on costs.
    Your comment defies the facts: Independents have save your bacon...and that of many other Australians.
    You can call the last 3 years turmoil if you like but I'd prefer to view them as the big end of town mounting a relentless attack on average Australians whilst at the same time lining up for tax cuts for themselves. Apparently the huge and rapidly growing CEO rorts are not enough.
    HarrysOpinion
    27th Jun 2016
    12:37pm
    Agree with you Mick.
    ex PS
    29th Jun 2016
    4:40am
    Brue, nobody expects the Independents to win, but they can stop whichever government that gets in from ruining the country by introducing politically motivated bad legislation. Other than that, if a government gets in that has the basic skills of negotiation Independents with the balance of power will have an opportunity to get some of their policies through.
    In my opinion if the LNP gets in and has no checks and balances Australia will be sold to the highest bidder and no regard will be given to working people or retirees.
    buby
    3rd Jul 2016
    7:39am
    indeed you are very right Mick.
    and i did change the way i voted.
    And by the looks of things quiet a few ppl have.
    SO we just need to return MORE power to the people.
    And stop being so SET in our comfortable ways.
    cheers have a good weekend

    27th Jun 2016
    12:20pm
    A fraction better, but STILL "dreaming" rates, NOT deeming rates!
    Nan Norma
    27th Jun 2016
    3:14pm
    Why is it better when the banks are not paying the deeming rate now.
    whatsupdok
    27th Jun 2016
    12:22pm
    Where is our Australian, Donald Trump?
    HarrysOpinion
    27th Jun 2016
    12:41pm
    When he is ready to make Australia, USA's 51st State. ( FYI: Puerto Rico and DC are territories of USA, not States).
    HarrysOpinion
    27th Jun 2016
    12:45pm
    Just in case you thought there was no other government assets to sell :-() heh,heh,heh,ha,ha.....
    Anonymous
    27th Jun 2016
    1:07pm
    He's at his delapidated resort in Coolum.
    MICK
    27th Jun 2016
    1:14pm
    Are you referring to Tony Abbott whatsupdok?
    Old Geezer
    27th Jun 2016
    3:41pm
    I heard that Coolum was about to be bought by another aspiring pollie.
    buby
    3rd Jul 2016
    7:40am
    She coming lol@whatsupdok:)
    buby
    3rd Jul 2016
    7:43am
    Thanks very much HS, but we really don't need That Trump here anytime too soon. NOR his stupid politics neither.
    We have enough of them here as it is.
    I'd rather vote for Pauline Hanson, and guess what.........I DID
    whatsupdok
    27th Jun 2016
    12:22pm
    Where is our Australian, Donald Trump?
    HarrysOpinion
    27th Jun 2016
    12:46pm
    Mick's here, I am here and few others...
    MICK
    27th Jun 2016
    1:15pm
    Yeah. Most of the trolls are probably in nursing homes conning the feeble minded.
    Old Geezer
    27th Jun 2016
    1:54pm
    Clive has left the building.
    MICK
    27th Jun 2016
    2:35pm
    And Pauline is coming back as a Liberal.
    Golfer
    27th Jun 2016
    12:48pm
    Mick,
    A great number of people are set in their (voting) ways just as you very much appear to be.
    Frankly for the 1st time ever I don't know who I will vote for. I will however not waste my vote on an Independent.
    And after the Shorten scare tactics and outright scurrilous lies on Medicare I will not vote for Labor - that is a first for me. Can I bring myself to vote for Turnbull - maybe because I am so disgusted over Shorten's lies and advertising campaign.
    MICK
    27th Jun 2016
    1:37pm
    I'll vote for whoever the real McCoy is Golfer and whoever is going to work in the interests of the nation. I don't care what their colour is.
    You may want to run the Medicare propaganda peddled by the press but please discuss:

    1. the $50 billion black hole lie from the coalition complete with giant poster. Shown to be a total lie 2 days later by every economist about.
    2. the immigration lie when Shorten keeps stating that there will be no change in border policy
    3. the lie about the $50 billion tax cut for the rich. The Trickle Down effect has been shown not to work. I'll give you a link if you want it.
    4. And then there is Gonski funding and a host of others

    So you might vote for the coalition? Yeah right. Tell me about an honest choice. I find it curious that you focus on one potential lie rather than dozens after 3 years of this government trying to add new taxes onto the tails of Medicare. Incredible!

    Independents are coming and both sides need to accept that the public has had enough.
    Old Geezer
    27th Jun 2016
    1:50pm
    I agree Golfer. I too simply don't like Shorten's tactics or his shorten economics. I personally know the 3 Labor candidates in my electorate and 2 neighbouring ones and have told them that their negativity and lies has turned me off.
    Old Geezer
    27th Jun 2016
    1:53pm
    Mick how do you know that those independents are independents and not just plants to get Coalition or Labor votes? I know a few independents have been put in just for that very reason. It is a tactic used a lot in local government elections so there is no reason that it is not being used in this election.
    Swinging voter
    27th Jun 2016
    1:58pm
    I feel Labor shot themselves in the foot peddling the Medicare Will Be For Sale nonsense. Buyers only want proven profitable businesses and the Medicare model is not for profit. In fact it's a dead set loser.

    If the recording showing Shorten swearing f. at the pie shop woman was regularly televised as part of the ad campaign, the other side would bolt in. Not only is he too closely aligned with bullying unions, the fact that when he thought no-one was watching and bullied the lady when she couldn't supply his kid with a pie, his desperation resorted to a silly scare tactic with an un-sellable Medicare. Always thought he would be found out. Who wants a PM who says, "I fought" (thought), "I fink" (think), I wouldn't bovver (bother), "anuvver" (another) and so on.
    MICK
    27th Jun 2016
    2:41pm
    I have reached troll central. Comments are Liberal Party afvertising slogans.
    Maybe keep the BS to 3 word slogans.
    Sceptic
    27th Jun 2016
    3:14pm
    "3 word slogan" is a three word slogan MICK.

    Thee biggest troll to submit to this site has to be the most prolific poster. And the prize clearly goes to MICK.
    MICK
    27th Jun 2016
    3:49pm
    If I were dishonest like you or pushed a political party you might have a case. But I do not. I just push the solution to an illness in our society which you propose to enshrine in LAW.
    Gaby
    27th Jun 2016
    1:54pm
    It is always easier to make the vulnerable pay for the privileged few. Seniors, Pensioners do not have enough of a strong voice unfortunately. The deeming rate level may have changed but the rate is way higher than what the banks give you on deposits. Currently 2.90% yet the deeming rate is 3.25% - Go figure
    Old Geezer
    27th Jun 2016
    1:56pm
    A fellow from Centrelink told me that they don't want pensioners keeping their money in lazy assets so have the rates higher than bank interest to encourage them to look for a better return and make their money work for them not the banks.
    Anonymous
    27th Jun 2016
    2:18pm
    This higher rate also works for the government by keeping pension rates at a lower payout level.
    MICK
    27th Jun 2016
    2:44pm
    Funny how your 'comment' is identical to the 'Bronny' comments Geezer.
    Old Geezer
    27th Jun 2016
    3:50pm
    Sounds to me like it must be true and what Centrelink are telling people then if Bronny says the same thing.
    ex PS
    29th Jun 2016
    5:07am
    Lazy assets! Only someone who has absolutely no idea about investments would talk like that about retirement fund management . We are not talking about young professionals who have the time and capacity to make up their losses, we are talking about retirees who are depending on their investments to live on. If the government is pushing this theory as a sent will tell you is serious strategy it just proves how financially inept it truly is.
    First principle of investing that any first year uni. student will tell you is "The higher the return, the higher the risk".
    It is irresponsible, reckless and ill-informed to make broad statements about lazy assets in this circumstance.
    If people take on high risk investments and lose is the government then going to be happy to give them a full pension, if so why don't we all go to the casino and triple our money overnight?
    Anonymous
    29th Jun 2016
    10:24am
    You are right, ex PS, and also it's clear that this out-of-touch run-by-(and for) the-rich-and-privileged government are extreme hypocrites with their ''pensions for the needy'' crap. As are Bonny and her supporters who peddle that BS.

    The NEEDY are the educationally underprivileged and risk-averse (due to past hardship) who will get the LOWEST returns on their money because they don't have access to the expertise to achieve higher returns. So all that is achieved by setting deeming rates high is to punish the more responsible battlers for saving and to further persecute the people the system claims to be helping most.
    rodders
    27th Jun 2016
    2:00pm
    Completely agree with Mick the golfer re medicare lies, does anyone really expect Shorten to keep his word regards border policy when if successful, only the truly naïve would think the Greens bedmates would run with it. As for the "sizeable black hole" you mentioned there were also plenty of other economists who reckon it was pretty well spot on so who's economist do you believe? Could be a fair indicator when you have Bumbling Burk say that their policy costings will drive us further into the red for the next few years till they bring the economy back to the black in the early 2020's, come on, the world could have changed drastically over that time and Labour/Greens would probably been voted out again by then especially if the "scratch my back and I will scratch yours" Oakshot gets another shot at the blackmail. Seems to take a rather long time doesn't it, paying off a incompetent, mindless, policy less, spending spree designed purely to stay in power by a previous government?
    Old Geezer
    27th Jun 2016
    2:06pm
    One has to wonder why Windsor and now Oakshot are standing again. Windsor maybe one can understand but both of them. Me thinks something is cooking and it's smells bad. I can't really see them joining Labor this time either after the backlash they got last time. So is Oakshot a quasi LNP independent?
    MICK
    27th Jun 2016
    2:47pm
    To remove the current corrupt government from another term of attacks on average Australians?

    27th Jun 2016
    2:02pm
    These deeming rates are a pathetic joke and what is EVEN WORSE are the asset thresholds as of 1 July 2016. These assets figures are only applicable until 1 January 2017 when they will increase astronomically. This is only a very poor trick of a sweetener by the federal government to get your vote. DO NOT VOTE LNP!
    sticko
    27th Jun 2016
    2:04pm
    http://www.onenation.com.au/THIS IS OUR DONALD TRUMP. PUT LIBS. LABOR, GREENS LAST
    PlanB
    27th Jun 2016
    2:34pm
    The highest I was able to get was 2.50% on a term deposit as the other savings accounts were 1.55%
    MICK
    27th Jun 2016
    2:49pm
    Bank Australia offering 3.5%. Ubank (NAB) offering over 3% as well. Neither are term deposits as well.
    Of course be careful not to put all of your eggs in the one basket. Cheers.
    PlanB
    27th Jun 2016
    2:47pm
    If Centrelink SAYS we are getting this amount of interest -- then how come the Bank is NOT giving this amount ? It is not mandatory with a Pensioner account ?
    MICK
    27th Jun 2016
    2:59pm
    Read above. You can get > 3% but not every institution offers that.
    PlanB
    27th Jun 2016
    3:27pm
    Mick what type of account is that you speak off is it a progressive type account where you put so much in every month /week and get the higher interest if you don't touch the money?
    MICK
    27th Jun 2016
    3:52pm
    An everyday account. look up UBank and have a read. I believe that ME (Members Equity) may have a higher rate but I have not dealt with them for a while now. Found the business to be inefficient and left. Let me know via a private message through this website if you have any problems and I'll send you a link.
    PlanB
    28th Jun 2016
    6:31am
    I will check it out today Mick.

    I still want to know if the Government says we are getting a set amount of deeming then HOW come the bank is not compelled to give that amount -- I ring the bank and they know nothing --and say -- talk to Centrelink -- I talk to them and they say see the bank --
    Old Man
    27th Jun 2016
    3:01pm
    Is this article really worth the effort? My reading of the threshold that affects me is that the rate has gone from $81,600 down to $80,600. This works out in monetary terms as $15.00 which won't affect my pension nor, I suspect, anyone's pension.
    Nan Norma
    27th Jun 2016
    3:10pm
    increasing deeming rates is bad news. We can't get that interest rate. So its worse now them before.
    MICK
    27th Jun 2016
    3:14pm
    Read above. You can Norma.
    Nan Norma
    27th Jun 2016
    3:22pm
    Mick, tell me where. Those that I have seen you have to deposit $200 a month and make no withdrawals.
    Sceptic
    27th Jun 2016
    3:22pm
    Is it so hard to Google Best online Rates? For goodness sake people Try to look after your own welfare and make some inquiries on line. It is not that hard.
    PlanB
    27th Jun 2016
    3:30pm
    NAna -- those ones you speak of are a dead loss as soon as you draw on them you lose the interest for the whole month, so I know where you are coming from.

    I just rang my Bank and I was speaking to overseas -- could darn well not even understand them at all and they know SBA
    MICK
    27th Jun 2016
    3:44pm
    I posted above (PlanB).
    I use Ubank........which is a division of NAB. Normal rate is around 3% but there is a bonus rate on top of that if you transfer $200 a month in.
    I do not know a lot about Bank Australia but they do advertise a high rate.
    PlanB
    28th Jun 2016
    6:21am
    Yes Mick thats the account that is called a progressive or such and if you draw out ANY money in the month you lose interest for the WHOLE month, very good FOR THE BANK
    Bonny
    28th Jun 2016
    7:56am
    A couple of the big 4 banks have current capital note issues now paying about 5% above tbe cash rate so thise deeming rates are not difficult to better.

    Parking your money in bank deposits is just being lazy with your money. The banks then use it to make money for their shareholders. Bank shares themselves return over twice the deeming rate at present. Does it really matter if their share price changes from day to day if you get a good return? My CBA shares I bought for $5.40 have already paid that back many times in dividends and I still have an investment worth about 15 times what I paid for it. If I had just parked they money in the bank I would only have $5.40. Makes no sense to me just to park your money in a bank.

    Centrelink is right to keep the deeming rate at this level.
    Anonymous
    29th Jun 2016
    10:30am
    You display your dishonesty and hypocrisy with that last statement, Bonny. You claim ''pensions are for the needy''. If that were true, deeming rates wouldn't punish battlers who struggle to save a few dollars for a rainy day but can't - due to educational deprivation or past hardship and crisis making them very risk averse - get better than bank interest.

    Clearly, you support looking after the privileged who can rort the system the way you do, and stuff the rest of society.
    Old Geezer
    29th Jun 2016
    10:44am
    Rainey your cruelty to Bonny astounds me. You are also full of excuses of why people can't do things but forget the number one reason laziness or the can't be bothered one. Anyone in this country can achieve anything you wish if they work for it. The privileged get experts to do it all for them but the smart people get up off their posteriors and do something about their situation to make their life better. Educational deprivation and hardship does not stop them.

    I also take offence that anyone that does well financially in our society rorts the system.
    Anonymous
    29th Jun 2016
    6:21pm
    Old Geezer, you are typical of the arrogant who rely on assumptions and anecdotal evidence and dismiss the harsh realities of life as they impact on others. No compassion. No empathy. No respect.

    No, not everyone who does well financially in our society rorts the system. SOME do well through hard work, frugal living and being smart. But THEY have empathy and respect. They don't judge others harshly and ignore the realities that impact on the ability of some to rise above hardship and deprivation.

    It's NOT about getting off one's posterior. If you had any understanding at all of the impact of real deprivation and abuse you would understand that some people CAN'T make their lives better - despite enormous investment in trying.

    I rose about huge disadvantage, and doing so taught me to understand just how hard it is and to appreciate the assistance and opportunities that helped me on my way - as well as to empathize with those who didn't have those opportunities or that assistance or didn't have the inner strength and wisdom to use the opportunities (generally because of hideous abuse in childhood and deprivation of love and approval).

    I am not cruel to Bonny. I treat her with the contempt she shows to others. She declares my grandchild has no right to life. She declares people should have their homes taken from them because they didn't get rich enough to need no pension support in old age. She declares people should be stripped, in retirement, of everything they worked for and earned, unless they made it to total self-sufficiency despite investment returns falling through the floor. She has not one ounce of tolerance or respect for people who have given decades to hard work, sacrificing their health, to contribute to this nation, and who are still giving through charity and community work, but ask for a little support from the taxpayer in their twilight years because they accepted low pay during their working life (having been deprived of opportunity to rise to higher paying jobs) or because they suffered illness or disability or gave years to caring for a sick or disabled loved one.

    Society still needs toilet cleaners and parking booth attendants and trolley collectors and people who hold stop/go signs at roadworks. It still needs unpaid carers and parents who sacrifice their wealth for sick or developmentally challenged children. It still needs soldiers and firemen and policemen who put their life and health on the line - and often end up in hardship - facing danger to protect others.

    Not everyone can be a high income earner. Some work their guts out just to keep a roof over their family and food on the table. And society derives as much, or more, benefit from their endeavours as from the often very minimal and self-serving efforts of CEOs and bankers and politicians.

    We have become obsessed with money and success and status and totally lost our appreciation of what matters in life - PEOPLE. Now, those who are dishonest or corrupt but appear successful earn more respect than the honest hard-working battler.

    I am sorry if I am offended by excessive materialism, vile judgmental attitudes, and denial of fairness to others. But I refuse to stop speaking out against the cruelty and disrespect some here show to the people who made this nation what it is.
    buby
    3rd Jul 2016
    8:12am
    Sceptic, don't be so nasty, somebody is just asking a simple question, there is no need to answer like that for heavens sake. If you can't be civil, don't bother answering???
    buby
    3rd Jul 2016
    10:19am
    Sceptic you just need to pull ya head in really you too should stop being cruel to Nan,
    Not everybody will grasp things, many ppl just don't have a head for it. YOU know, or perhaps you don't know. Please show some consideration!!
    Leanonme
    27th Jun 2016
    3:30pm
    There should be ZERO tax on Pensioners .
    MICK
    27th Jun 2016
    3:45pm
    Agree up to a point. The irony is that politicians want it both ways. They want us to be self funded and then cane retirees who are. Very unfair.
    Anonymous
    29th Jun 2016
    10:41am
    Pirate Party Australia put forward an interesting policy suggestion - and the figures to suggest it's economically viable. Certainly would be fairer and more respectful of ordinary Australians than the current unfair and expensive BS system:

    Zero tax on incomes up to $37,500 per annum. After that, a flat 37.5%. 25% for companies. No avoidance vehicles (negative gearing, capital gains tax exemptions, etc.)
    Abolish ALL welfare and GUARANTEE every citizen an annual $14000 a year income. If you don't earn that much, you get a ''tax refund'' paid fortnightly to top your income up to that level.
    Top up aged, sick and disabled people's income with a further $6000 a year and also pay primary care givers an extra $6000 a year if they don't earn anything.
    Abolish all state taxes and all rebates, grants and discounts completely and replace with a single land tax, with productive agricultural land exempted, and the option for low income earners to defer payment until sold (if not replaced with similar) or after death, when it's paid from their estate.

    Interesting concept. For seniors, it would mean no means test (as should be the case), no punishment for effort or endeavour, a guaranteed basic income higher than is paid to couples now ($20,000 each) and the right to benefit from your hard work if you continue to work or invest or have saved well during earlier life. But the cost would be likely much less than now because a vast number of seniors would be paying substantial tax on their high incomes. (Superannuation income for retirees is included as regular earning income. Superannuation tax concessions are abolished, but all contributions to super and earnings in super are tax free for everyone. Limits apply to how much can be accrued in super.)

    Phasing in might be problematical as there would need to be some special provisions to counter unfair disadvantage to some who would lose out under the new system but would not have accrued the gains earlier on.
    buby
    3rd Jul 2016
    10:28am
    wow thats so interesting, too bad i ticked them last on my list....Obviously they are not progressing much due to lack of information to the rest of society.
    But hell the above sounds better than whats going on now!!
    buby
    3rd Jul 2016
    10:29am
    yes LEan on me i AGREE with you there
    Rodent
    27th Jun 2016
    4:03pm
    The part of this Post that relates to the Income and assets Test Thresholds changes as from 1 July 2016 DOES NOT ALLOW COMMENTS TO BE POSTED?

    The threshold changes(increases) only may a BAD situation only WORSE as the give an increase NOW but as from 1 Jan 2017 the new thresholds , and changed taper Rate takes effect, so the NETT effect is the LOSES to some pensions are more, and the GAINS to others are Greater, totally utter rubbish only made WORSE!!!
    MacI
    27th Jun 2016
    4:06pm
    As far as I am aware the deeming rates have not changed - only the thresholds. If you are a couple then your pension will rise by $7.50 a year- enough for a coffee and a doughnut - maybe.
    MacI
    27th Jun 2016
    4:07pm
    And only if your Age Pension is Income Tested - not Asset Tested.
    MICK
    27th Jun 2016
    8:46pm
    So far.
    Bigfoot
    27th Jun 2016
    4:24pm
    I have never read such a bunch of old wingers! You don't realize how good you have it! Voting Independent is totally irresponsible as all it does is hamstring whatever party wins the election. If we really care about the financial state of this country you will not vote for the lesser parties or independents or we will have the same old problem we have had over the past 3 years where the Government hasn't been able to Govern because the opposition and minor parties have blocked every move. WAKE UP Australia! Do we continually want handouts to satisfy our selfish wants or do we want to live in a country that has a stable economy and is a great place to live!!!
    Anonymous
    27th Jun 2016
    5:07pm
    Bigfoot, your comments are the biggest load of BS I have heard all day! The government hasn't been able to govern for the past three years because they are INEPT - no other reason!! It is people like you who are blind who will bring down this country by putting these type of clowns back in their cushy government chairs to do nothing for another term. You are truly a very irresponsible person!
    MICK
    27th Jun 2016
    5:39pm
    Voting Independent is irresponsible? Says who? Malcolm Turnbull?
    Your post is straight out of the current LNP propaganda campaign and is factually nonsense.
    Actually the past 3 years have seen democracy at work. Were it not so then you would be paying to see the doctor + for medicines + for X-rays and the like. And let's not forget the rich would already be in the vault counting their newly created money.
    Your post defies logic Bigfoot. The only selfish are the rich whose fortunes have grown quite disproportionately to the rest of the nation but who want even more.
    Strummer
    28th Jun 2016
    8:42am
    It doesn't really matter which of the major parties wins government as long as they don't have an unfettered go at us.
    Anonymous
    29th Jun 2016
    11:05am
    Bigfoot, consider just two examples of the GROSS INCOMPETENCE of this government, and why it disproves your claims.

    1. Corporate tax cuts to big business - that means huge US-based multinationals who currently DON'T pay, but if they do, they will now pay less in Australia and more in the USA. Estimates are that the LNP's tax cuts will GIFT $11 billion to the American IRS.

    2. Pension assets test changes: Claimed to be aimed at stopping millionaires getting pensions, they target people with far less than $1 million, but ignore retirees with multi-million dollar homes. They hurt people with incomes as low as HALF the aged pension, while paying pensions to folk with incomes well over $60,000 a year in some cases. They force people who went without luxuries for years to try to be self-sufficient in old age to drain their savings in early retirement and face poverty later, while giving generous handouts to folk who squandered and lived the high life. They totally ignore the fact that retiree income has already been smashed - more than halved - by falling investment return, and make yet another attack on retirees who saved, taking up to 1/3rd of the meagre income that remains.
    The changed policy pays 7.8% return to anyone who SPENDS their wealth (or hides it), in an environment where many are struggling to get better than 2.5% on savings. The policy sends a very strong message to workers to avoid saving unless they can be confident of achieving substantial wealth in retirement, or can be sure investment returns will skyrocket in the future, because you SUFFER for having saved.
    It's the most IDIOTIC, IRRESPONSIBLE, ILL-CONCEIVED, ECONOMICALLY DEVASTATING policy ever dreamed up, and it will send the cost of aged pensions sky high as people realize that trying to be self-sufficient results in massive pain and zero gain.

    If this is the type of incompetent government some here endorse, heaven help us all! All hope is lost!
    JOHN T
    27th Jun 2016
    5:27pm
    i totally agree this Government has to go as they forget the lies they told to get elected in the first place i hope our senior friends remember this on 2/7/16
    Did we notice Turnble giving Abbott a good rap he will be PM if the Election is close
    MICK
    27th Jun 2016
    5:34pm
    "He lied"? Go for it Alan Jones!
    ex PS
    29th Jun 2016
    5:18am
    Lying seems to be the new policy for the right wing governments, the right wing spokesman for the cause in England promised that if they left the Union hundreds of millions of pounds would be diverted into health care, the day after the result he stated it would not happen, apparently he misspoke. Right wing governments can not be trusted with health and welfare issues.
    Ian
    27th Jun 2016
    6:27pm
    I don't under this as I have for a few months now been deemed at 3.25% what gets me is I can't get interest at the deeming rate if anybody knows tell me I have asked Centrelink where do you get that rate 3.25% ha ha they could not tell me
    Anonymous
    27th Jun 2016
    6:31pm
    Ask Malcolm Turnbull.
    PlanB
    28th Jun 2016
    6:35am
    Dead right Ian -- NO ONE can tell me either and the Bank just looks at you blankly and shrugs their shoulders -- and Centrelink are no better WHO THE HELL DO WE GET ANSWERS FROM?
    ex PS
    29th Jun 2016
    5:28am
    Heritage Bank gives 3.25% on term deposits, but only for 2 months then you have to roll it over. Go to a broker and you can get a mix of hybrid bonds that are fairly safe and could get you 4-6%.
    Remember the higher the profit the higher the risk and you should be prepared to pay about $120.00 for each transaction e.g if you buy six different products you will pay $360.00. A good broker can give you advice and should not charge you.
    MacI
    29th Jun 2016
    1:01pm
    Ian - Best I could find is CUA. They offer Term Deposits at 3.25% over 3 Years with a minimum deposit of $5000. Interest is paid annually or on maturity (your choice) to get this rate and you have to be age 55+. You can elect to take the interest monthly in which case the rate is 3.1%.
    buby
    3rd Jul 2016
    10:35am
    i rather like ING, its a bit low, but you know you get some nice money coming back at you when you use their card, its a great incentive to keep banking with them, and you can see the money going in at a regular rate,Saving makes it so easy....
    in2sunset
    27th Jun 2016
    6:28pm
    Well - I've just fallen off my chair!! BIG DEAL!!! I look after a friends financial affairs, and the difference means the HUGE increase of - wait for it - $9 a year!!! WHOOPEE!!!!! The only difference is the amount for first interest rate increases from 48,600 to 49,200 - a whole big $600!! What a joke....
    JOHN T
    27th Jun 2016
    6:43pm
    couldn't agree more they think because a person is older they can not see how self important they are they under estimate the strength that grey power could muster if they removed their blinkers
    Anonymous
    27th Jun 2016
    6:44pm
    And if these LNP clowns get in again it will be an EVEN BIGGER BAD JOKE for ANOTHER term. Don't vote LNP.
    buby
    3rd Jul 2016
    10:37am
    YEs INDEEDy John T. They wanna wisen UP
    Joey
    28th Jun 2016
    12:35am
    How can they deem our income at a rate of 3.25% when the reserve bank interest is 1.75%(I think); and it is almost impossible to to earn even 2% in a bank account or term deposit. Surely there must be someone we can appeal to? No one our grandparents hid their money in their mattresses
    Bonny
    28th Jun 2016
    7:58am
    Centrelink doesn't want people to be kazy and park their money in banks.
    Anonymous
    29th Jun 2016
    10:44am
    So Centrelink assumes everyone is educationally privileged or can afford good financial advisers, or do they just NOT WANT TO HELP THE GENUINELY NEEDY. (I suspect the latter! Screw everyone except the privileged. That's the policy you endorse, Bonny.)
    ozrog
    28th Jun 2016
    7:17am
    Just an insult.

    28th Jun 2016
    4:21pm
    Vote for Coalition to be returned. Shorten is hopelessly ignorant and shows it by his silly denial that Labor actually did run up huge amount on debts in last government. And his silly they'll sell Medicare. I mean whats to sell?
    Own nothing its just a system of paying for health and it income is collected via levy on income tax. And seeing as there are only 10 million taxpayers on PAYG - wealthy do pay but not on It - Shame! Be better off if they were as would get full payment of tax on incme as reported then - today they tell ATO how much mainly they are being paid and dividends well Keating made sure didnt pay on these. Yet income and workers pay on income so should shareholders. But he held shares so! Same is why wont close offshore accounts or Trusts and Labor MPs included in having both of these. Are they going to vote to make less when already overpaid against other countries like UK or USA check out on line salaries - Our Pm paid more than all except the Leader of EU.!! No wonder UK wants out.
    No other party worth a vote in lower house. So stick with history of being able to manage and pay off normal debts always left by Labor as never got anyone with brains enough to NOT waste and overspend.
    But Senate. Different story. ALA and One Nation both say age pension too low. And both have immigration policies meaning less of worst kind and less until we chose who comes and when out of trouble etc. So this is good as means they arent daft and will look after us older as an asset which we are and built the place anyway with our hard work now all want to come 'share' but wont work. Not many jobs for those who would anyway. But most today have large families better off money wise on dole with kiddies monies being the big draw card. Muslims average 8 kids per woman and money rises for each kid added. Human nature says will stay on dole. CAnt earn that kind of money when not professional top earning qualifications which most don't have any. Add 4 others there - Nick Xenophon, Jacqi Lambe Network Animal Justice and your old party.
    Make for a Senate which will pass laws and saving cuts etc instead of blocking them to be awkward or just making sure other major looks bad so gets voted out next time. Too much of that lately.
    ALA good policies so has Pauline.Pity didn't get any in lower house seats this time. Next time though said if go well will - need new blood and not just two very comfortable major parties who in reality like being on one or the other side of the house in turn. And always agree on wage rises etc for themselves - cant have not noticed that surely!!!
    Always make sure their own wallet nicely fat and perks are good too.
    PlanB
    29th Jun 2016
    6:47am
    Val the Libs have already stuffed around in a very sneaky way with the pension - taking away the pitiful rise we got twice a year -- (Male Total Average Weekly Earnings (MTAWE) -- we now only get the CPI ( Abbot said NO CUTS TO PENSIONS) this was a very sneaky way of cutting pensions!
    AND also medications and the amount we get on the PBS many items have been taken OFF the PBS and we now have to buy them at a much greater cost PLUS it does not go towards the safety net -- Plus they have gone UP in price from $6 to $6.20 AND the safety net has also been raised --- most people have NOT woken up to this as Sussan Ley has done it in a very sneaky way.
    So in actual fact they HAVE lowered the pension by quite a bit.

    SO how the hell can you trust this sneaky lot of libs they lie and twist words and will NEVER answer a question.
    Having watched Matius Corman and Morrison -- they are boring and arrogant and sound like they have been injected with a gramophone needle -- the reason WHY they talk over everyone is because they are LYING and they try and use up the time permitted, so they can get away with their lies, they are SCUM!
    ex PS
    29th Jun 2016
    4:51am
    I think introducing static deeming rates defies logic, many retirees will be tempted to chase higher investment rates by investing in higher risk strategies. 3.25% is higher than most term deposit accounts will deliver especially those that will run over a twelve month period.
    Their will be plenty of Bankers lining up to take their money off them, most likely with the blessing of the current government.
    This will not effect me as I am self funded, but I fail to see why the next generations would bother to do more than the bare minimum to ensure financial security from their own sources. Once a government gets an appetite for putting their hands into other peoples pockets they become addicted.
    in2sunset
    29th Jun 2016
    1:19pm
    Agree, many older people are not aware of scammers out to steal their money. I look after a friend's money affairs ( he has no computer, is on aged pension and is very illiterate with financial stuff). He is always ringing me saying he heard of some scheme with a guaranteed return of 14%!!! I look at and can see it's a scam, but how many other elderly are hoodwinked? Best I can get st his bank is 2.8%, and that is with allot of haggling.
    Old Geezer
    30th Jun 2016
    11:41am
    NAB has a savings account that offers 2.95% if you deposit $1 every month and don't make any withdrawals. You can withdraw you money anytime but you will get a lower rate for the last month. A lot of pensioners use this account over their pension account.
    Old Geezer
    30th Jun 2016
    11:43am
    I know of one pensioner who has 3 of these accounts in case she needs the money. She can withdraw out of one and only get a lower interest rate on that account. The others still get the higher rate.
    PlanB
    30th Jun 2016
    5:28pm
    I hate those accounts that you loose money if you take any out --defeats the purposes -- I use an ON LINE SAVER and I can draw what I need when I need and only loose the interest on the amount I take out
    buby
    3rd Jul 2016
    10:39am
    ING can do better than Nab actually, you should check it out Geezer
    PlanB
    29th Jun 2016
    6:51am
    Val the Libs have already stuffed around in a very sneaky way with the pension - taking away the pitiful rise we got twice a year -- (Male Total Average Weekly Earnings (MTAWE) -- we now only get the CPI ( Abbott said NO CUTS TO PENSIONS) this was a very sneaky way of cutting pensions!
    AND also medications and the amount we get on the PBS many items have been taken OFF the PBS and we now have to buy them at a much greater cost PLUS it does not go towards the safety net -- Plus they have gone UP in price from $6 to $6.20 AND the safety net has also been raised --- most people have NOT woken up to this as Sussan Ley has done it in a very sneaky way.
    So in actual fact they HAVE lowered the pension by quite a bit.

    SO how the hell can you trust this sneaky lot of libs they lie and twist words and will NEVER answer a question.
    Having watched Matius Corman and Morrison -- they are boring and arrogant and sound like they have been injected with a gramophone needle -- the reason WHY they talk over everyone is because they are LYING and they try and use up the time permitted, so they can get away with their lies, they are SCUM!

    It will be like Abbott -- he promised not to cut or alter SO many things and he broke EVERY promise EXCEPT STOP THE BOATS -- and I wonder at what cost that was done -- as they would not tell us a thing
    Nan Norma
    29th Jun 2016
    7:50pm
    I made a search today and could not find one bank or building society offering more than 3.15% we are losing money. By the time inflation kicks we lose even more. If you are asset tested it gets even worse. And there's more to come next year.
    Old Geezer
    30th Jun 2016
    11:37am
    Forget the lazy money parking why not buy the bank shares instead. CBA is currently returning over 8% in dividends. NAB over 11%.
    ex PS
    30th Jun 2016
    7:06pm
    Nan Norma, makes you wonder if the government wouldn't prefer us to spend all our money and go on a full pension? Why invest it if you are boing to be worse off in the long run?
    Old Geezer, if I rely on investing $500,000 to provide a sole income, would you guarantee that buying bank shares would be a low risk option ?
    I don't expect or really require an answer to this but how much of your own money have you invested in bank shares? That is a test of how credible your advise is.
    Old Geezer
    30th Jun 2016
    10:22pm
    Yes I have more than $500,000 invested in bank shares which provides me an income greater than the age pension per year.
    PlanB
    1st Jul 2016
    7:22am
    YEs I would want my money to be capital guaranteed -- not worth the risk if it is not and shares can go up or down and you end up with a loss.
    Also the big the interest the bigger the risk
    ayers
    2nd Jul 2016
    7:58am
    There is no Donald Trump in Australia and will never be. All Richest are grown with care by HIGHLIES, so do not expect any RICHES here bite their UPPER hands.

    Donald is different, HE is rich but did not grown by HIGHLIES through his life.

    However If Donald Trump wins USA Election, then bukalemuns appears to try to copy Trump as their idol, pretending they have BALLS without having balls.


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