What’s in it for self-funded retirees

If you’ve worked hard all your life to fund your retirement, then you may be a little disillusioned by the 2012/13 Federal Budget.

What’s in it for self-funded retirees, Budget 2012 2013, Australia, Seniors

If you’ve worked hard all your life to fund your retirement, then you may be a little disillusioned by the 2012/13 Federal Budget.

If you’ve yet to start your retirement and are still planning on ploughing as much as possible into your super fund, then you may be hit by changes to the concessional tax rates.

For those self-funded retirees looking to spend much of their retirement overseas, the Seniors Supplement may no longer be payable.

However, for self-funded retirees who are liable to pay tax, then the increase in the tax-free threshold may put a little extra in your pocket.

And if you hold a Commonwealth Seniors Health Card, then you should be entitled to payments under the Clean Energy Household Assistance scheme.





    COMMENTS

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    Vaycee
    9th May 2012
    5:59pm
    I wrote a letter to Mr Combet regarding the introduction of the so-called 'carbon tax' (which is really a tax on carbon-dioxide). Having received no reply I contacted my local member who followed up on my behalf.

    My question was, how many self-funded retirees are there in Australia and of those how many hold a Commonwealth Seniors Health Card.

    Needless to say the response I eventually received addressed the questions but gave me no answers. As an SFR without a CSHC I receive no compensation for the rise in the cost of living which will occur once the full impact of the 'carbon tax' comes into play.

    With pressure on the lowering of interest rates perhaps it won't be too long before my retirement savings are depleted sufficiently for me to be eligible for both the pension and the CSHC. Then I shall be another person who is a drain on government. Can't they see this?
    sydneycl
    9th May 2012
    6:11pm
    No.

    It's all part of the wealth re-distribution thing. Truly, they would be much happier if your 'wealth' was dissipated and you became one of the true believers dependant on Government largesse. You would then become more 'equal'. And they will continue to borrow money in order to achieve these goals (think Greece). But as the Greeks and the other partying European nations have found out - the problem with socialism is that sooner or later you run out of other people's money !!
    Vaycee
    9th May 2012
    7:18pm
    Or the people receiving the 'free stuff' find that the people paying for the 'free stuff' are in need of 'free stuff' themselves!!
    sydneycl
    9th May 2012
    9:22pm
    In a manner of speaking - ain't dat de troot now !!
    sydneycl
    9th May 2012
    9:28pm
    I really don't think that our comments will find favour with the lady who runs this sort of commentariat........... I have a feeling that she is strongly in league with the 'true believers' and thinks Julia is just great, John Howard was just so-o-o-o-o-o awful, Craig Thomson is just a very naughty boy and should have his wrist slapped with a soggy lettuce leaf and the carbon tax is just like a good dose of cod liver oil for us all.
    Huskie
    10th May 2012
    7:16am
    Vaycee, I asked similar questions as you of my federal (or should I say feral?) member. I am a SFR who does not pay tax and receive no benefits from the government. How am I going to be compensated? I was told that I should (at 64 and living in a small country town) go out and get a job so that I earn more money and can then pay tax!!
    Vaycee
    10th May 2012
    8:04am
    Exactly, Huskie, where is the 'equality' in all of this? Is everyone supposed to work regardless of their circumstances? Ah hem ... I forget there are those that "can't work", "can't get a job" (dare I include won't work?) but those that do want to work can't get a job anyway. What are they doing about that I ask? I have a friend who has just been retrenched. Guess what age bracket he is in? And Julia Gillard dares to say WE are out of touch!!!!!!


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