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Author Topic: Hope you lads have pulled your super out!!  (Read 617 times)

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odzy

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Hope you lads have pulled your super out!!
« on: October 15, 2017, 06:41:08 pm »

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rwa

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Re: Hope you lads have pulled your super out!!
« Reply #1 on: October 15, 2017, 08:49:32 pm »

I closed my SMSF down on June 30th. Few reasons, not the least of which was that it is a cash cow for gubbermint in debt so far they are desperately looking for money. I have a feeling Super Funds will eventually be required to hold an amount (and increasing) in Gubbermint Bonds.

I also want to be the only one who controls my money and decides what's going to be done with it.

As for a crash, no doubt about it. How the system hasn't imploded by now is beyond me - "they" just keep propping it up with more and more debt, and kicking the can down the road to let someone else worry about it.
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doomsdayprepper4570

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Re: Hope you lads have pulled your super out!!
« Reply #2 on: October 16, 2017, 07:04:42 am »

It has to last another 12 months for me, lol.
Was banking on my super, but now have everything paid off without it.
Would be handy, it will not kill me if I loose some of it.
It is in the lowest risk investment section as I switched it years ago, before the 2008 crash :)
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

odzy

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Re: Hope you lads have pulled your super out!!
« Reply #3 on: October 16, 2017, 08:24:09 am »

when the meltdown starts I don't think your "low risk" investment will be surviving this time around.... you guys make the mistake and assume that the upcoming collapse will be the same as in 2008 but it won't, it will dwarf the 2008, .com bubble, 1989, and 1929 crushes put together due to the sheer amount of debt world-wide  :(
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Gympiegoat

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Re: Hope you lads have pulled your super out!!
« Reply #4 on: October 16, 2017, 10:31:43 am »

My SMSF is tied up for another year. I would not mind doing something with it as my accountant charges $3,000 a year auditing & doing my tax on it but he saved me $15,000 in tax on it this year so I can't really complain. That buys a lot of science fiction books. lol

I'm gunna list my investment 5 acres outside Hervey Bay for sale over Xmas as the Bay is booming & Council rates are among the highest in Qld. They take the edge off holding it. Might put that into the kids doomsteads & save me $2,000 PA in rates.
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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #5 on: October 16, 2017, 04:01:02 pm »

$3K is nuts, we pay $340 for auditing by an independent financial adviser and $20 spotting fee.  Accountant then charges $600 to do the rest!  All up it's $960 with a government return of $500  ;)
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OzHippy

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Re: Hope you lads have pulled your super out!!
« Reply #6 on: October 16, 2017, 05:14:24 pm »

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when the meltdown starts I don't think your "low risk" investment will be surviving this time around.... you guys make the mistake and assume that the upcoming collapse will be the same as in 2008 but it won't, it will dwarf the 2008, .com bubble, 1989, and 1929 crushes put together due to the sheer amount of debt world-wide  :(
I have already written of any super - there is no way I will ever see a sent of it.  The coming crash will start a +6month banking holiday were no bank transactions will take place or at best no more credit and those that live of credit card will be without any banking facilities. This will also start a lot of international wars and a lot of mess.  I am expecting it to start very soon, within months. 
The only debt that I have is on my house which is way more than my super - I will consider it even and keep the house with no further payments as the persons who do house repossessions will also be unemployed... 
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We live in interesting times!!

Gympiegoat

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Re: Hope you lads have pulled your super out!!
« Reply #7 on: October 16, 2017, 06:41:02 pm »

Personal tax prep fee         = $341
Audit                             = $  528
Prep SMSF & business tax = $2,266
                                    =$3,135
I am so glad I retired & sold up 5 years ago. No more $110,000 a year in council rates & no more 75 cents in the dollar tax. My last big tax bill was half mill business tax & $90,000 personal tax. It is only around $40,000 a year now.
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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #8 on: October 16, 2017, 06:56:45 pm »

your accountant is very expensive   :o
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Gympiegoat

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Re: Hope you lads have pulled your super out!!
« Reply #9 on: October 16, 2017, 07:08:35 pm »

Worth it though. I got over $15,000 back from the taxman this year.
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doomsdayprepper4570

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Re: Hope you lads have pulled your super out!!
« Reply #10 on: October 16, 2017, 08:18:07 pm »

I am looking at my last 2 tax returns as I am no longer going to play that bullshit game.
Once my super part is cleaned up they can stick the whole lot up their butthole!
I have had enough of money leeches and banks.
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

odzy

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Re: Hope you lads have pulled your super out!!
« Reply #11 on: October 16, 2017, 08:40:55 pm »

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I have had enough of money leeches and banks.

I hear you mate ;)
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graynomad

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Re: Hope you lads have pulled your super out!!
« Reply #12 on: October 20, 2017, 11:03:09 am »

When we turned the ripe old age of 55 we both removed our super, I don't trust the pricks not to steal it in one way or another.
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Scattered showers my arse -- Noah, 2348BC.

doomsdayprepper4570

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Re: Hope you lads have pulled your super out!!
« Reply #13 on: October 20, 2017, 07:57:09 pm »

Good god you are supious punt Rob! ;D ;D ;D ;D ;D ;D :'( 8)
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

Azzaaa

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Re: Hope you lads have pulled your super out!!
« Reply #14 on: November 07, 2017, 01:39:42 pm »

You need to look a little closer as to what do you think is going to crash? Which markets? And remember that if one market is crashing then, money is fleeing that market and flowing into another market. And the money that really moves markets is large institutional money. Funds with billions in them. And those funds have to invest that money at all times. Where are they going to go?
   During the height of the great depression when the bond, stock and commodities markets were collapsing the US dollar soared to record highs. Money has to go somewhere. What you have to ask is where is the biggest risk in the worlds economy and what is the alternative?
    If you can see that then you can position yourself to avoid being a victim.
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