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Author Topic: Hope you lads have pulled your super out!!  (Read 7404 times)

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OzHippy

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Re: Hope you lads have pulled your super out!!
« Reply #45 on: May 25, 2018, 12:36:38 am »


Home sales in the US are showing cracks, Deutche Bank is crashing again they have very high exposure to bad debt and if they go down they will take the worlds banking system with them.  An IMF bail out might be on the cards just like Venezuela and Argentina.  Soon the money changes will run out of thumbs to keep to keep all the leaks back. 

Existing Home Sales Fall More than Expected
Sales of previously owned houses in the US declined 2.5% mom to 5.46 million in April. It compares with expectations of a 0.2% drop to 5.57 million. Sales of single family houses slumped 3% while sales of condos rose 1.6%.

Deutsche Bank Crashes After Profit Warning, Confirmation Of Massive Layoffs
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« Last Edit: May 25, 2018, 02:33:08 pm by OzHippy »
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doomsdayprepper4570

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Re: Hope you lads have pulled your super out!!
« Reply #46 on: May 25, 2018, 09:13:27 am »

I am sure our outstanding treasurers here both states and federal have it all under control! :P
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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.

OzHippy

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Re: Hope you lads have pulled your super out!!
« Reply #47 on: May 25, 2018, 09:34:22 pm »

Things are accelerating into the abyss,  today's issues in the news... Italy and Spain taking the EU to breakup, many expect Portugal is the next one to upset the EU apple cart..  Turkey's currency still crashing and trade war might be on again.  S.America failing with Argentina going down and seeking an IMF bailout.

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Italy’s populists managed to stun markets with their policies more than two months after the election. They are now close to finally taking office
Erdogan’s determination to use his own, contrarian, monetary policy playbook
The summit between the mercurial leaders of the U.S. and North Korea was canned, for now
Fresh outbreaks in trade tensions surrounding China and Nafta
Argentina seeking an IMF bailout

Quote
The British economy expanded 0.1% qoq in Q1, in line with the preliminary estimate and well below 0.4% in Q4. It is the lowest growth rate since a 0.1% contraction in Q4 2012 as household spending rose the least in over 3 years and business investment shrank the most in 2-1/2 years.
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OzHippy

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Emerging markets Contagion - Brazil looking shaky
« Reply #48 on: May 26, 2018, 02:40:40 pm »

Is contagion setting in on emerging markets - Brazil is now showing sings of stress..

One Billion Chickens May Die As Trucker Strike Paralyzes Brazil
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"Sao Paulo, a megacity that’s home to more than 12 million people, declared a state of emergency and warned that shortages caused by the five-day strike may cause a state of public calamity, while export group ABPA said a billion chickens and 20 million swine may die in coming days due to a lack of feed"

Meanwhile, the airport in Brasilia reports that its kerosene reserves have run out, forcing American Airlines to cancel a flight from Miami originally destined for the Capitol city Friday morning, along with an evening return flight. And in yet another sign of impending calamity, the largest port in Latin America is reportedly running out of soybeans.
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OzHippy

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Re: Hope you lads have pulled your super out!!
« Reply #49 on: May 27, 2018, 10:34:16 pm »

Brazil truck driver strike continues with major impact across the country.   Things are looking shaky in Europe..

12 Indications That The Next Major Global Economic Crisis Could Be Just Around The Corner
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#1 The “smart money” is getting out of stocks at a rate that we haven’t seen since just before the financial crisis of 2008.[/size]
#2 Moody’s is warning that a “particularly large wave” of junk bond defaults is coming.  And as I have written about so many times before, junk bonds are often an early warning indicator for a major financial crisis.
#3 According to the FDIC, a closely watched category known as “assets of problem banks” more than tripled during the first quarter of 2018.  What that means is that some really big banks are now officially in “problem” territory.
#4 U.S. Treasury bonds are having the worst start to a year since the Great Depression.
#5 Mortgage interest rates just hit a 7 year high, and they have been rising at the fastest pace in nearly 50 years.  This is going to be absolutely crippling for the real estate and housing industries.
#6 Retail industry debt defaults have hit a record high in 2018.
#7 We are on pace for the worst year for retail store closings ever.
#8 The two largest economies on the entire globe are on the verge of starting an international trade war.
#9 The 9th largest economy in the world, Italy, is in the midst of yet another financial meltdown.  In fact, this one appears to be the worst yet, and there are fears that it could spread to other areas of the eurozone.
#10 Italian banking stocks crashed really hard this week.
#11 Italian two year bond yields are the highest that they have been since the crisis of 2014.
#12 German banking giant Deutsche Bank just announced that it will be cutting another 7,000 jobs as it “seeks to turn the page on years of losses”.  Those of you that have followed my work for a long time know that I have written extensively about Deutsche Bank, and it really is amazing that it has survived for this long.  If Deutsche Bank fails in 2018, it will essentially be a “Lehman Brothers moment” for the entire planet.


Brazilian Military Deployed To Break Up Trucking Strike As State Of Emergency Worsens
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The protests, triggered by a 50% spike in fuel prices over the last year, have resulted in the declaration of a state of emergency across most major cities as shelves run bare and fuel supplies dwindle. Airports have reported running out of fuel, hospitals are running out of supplies, and public transport and trash collection have been reduced or halted across the country. Some food prices have also spiked as supplies dwindle. As we noted on Friday, a lack of livestock feed.
Brazilian export group ABPA said that over 150 poultry and pork processing plants had indefinitely suspended production, while Brazil's sugar industry - the world's largest - is slowly halting cane harvest operations as their machines run out of fuel.
« Last Edit: May 27, 2018, 10:37:55 pm by OzHippy »
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OzHippy

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Re: Hope you lads have pulled your super out!!
« Reply #50 on: May 28, 2018, 05:59:21 pm »

First Greece, Now Italy, Portugal Next?


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hailesellasie

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Re: Hope you lads have pulled your super out!!
« Reply #51 on: July 05, 2018, 07:52:41 pm »

Me mayties...For me I either put money in my super or I have to give it to the ato....If someone has a better plan for me....I'm all ears!!
Cheers
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doomsdayprepper4570

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Re: Hope you lads have pulled your super out!!
« Reply #52 on: July 05, 2018, 08:54:22 pm »

Get paid a lot less!
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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.

hailesellasie

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Re: Hope you lads have pulled your super out!!
« Reply #53 on: July 06, 2018, 03:46:26 pm »

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Get paid a lot less!

Yeah right....hahahahaha....I'd be on the dole! ;D ;D ;D ;D
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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #54 on: July 06, 2018, 04:11:56 pm »

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Get paid a lot less!

Yeah right....hahahahaha....I'd be on the dole! ;D ;D ;D ;D
The dole won't be available for long lol
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Milspec

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Re: Hope you lads have pulled your super out!!
« Reply #55 on: July 06, 2018, 09:40:34 pm »

I didn't pull my super out as I don't have that option but I did switch it from the balanced portfolio to the cash portfolio for the time being.

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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #56 on: July 07, 2018, 05:34:19 am »

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I didn't pull my super out as I don't have that option but I did switch it from the balanced portfolio to the cash portfolio for the time being.
Yes you can pull it out and manage your own super.  SMSF  ;)
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0zprepz0

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Re: Hope you lads have pulled your super out!!
« Reply #57 on: July 28, 2018, 12:18:07 pm »

Quote
I didn't pull my super out as I don't have that option but I did switch it from the balanced portfolio to the cash portfolio for the time being.

Setting up a self-managed super fund can cost about $2K, plus $2K per year for accounting+fees.
If you have more than $100K in super, then you're probably paying about that in annual fees anyway. Maybe more in reality, because it seems that funds are understating their earnings and pocketing the difference. Ah, roll on, the blessed royal commission. Sunshine is the best disinfectant! :)

Anyway, once you have a SMSF you can simply purchase gold if you wish to and put it in a safe. Simple.
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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #58 on: July 28, 2018, 02:11:10 pm »

News to me mate...


3 years ago our setup fee was $100 to CBA for opening the account, $600 to our accountant and $250 for the SMSF folder including the small government fee.  Because we initially paid for the accountant and folder etc by ourselves it counted as a co-contribution which we recovered from the government at a ratio of one to one (maximum of $1000 per financial year)
The yearly fees we currently pay are $600 to the accountant and $330 to the auditor, the gold has to be audited by an independent auditor (accountants can't do this). 
NOW, if you co-contribute $1000 a year to the super fund you get the government rebate of $1 for every $1 you deposit/contribute so the $1000 you get from the government easily pays for the yearly fees we spend.  The maximum co-contribution paid by the gov is $1000 per year.

Our last year auditor invoice... 
NOTE; if paid by due date you only pay $330

« Last Edit: July 28, 2018, 02:25:45 pm by odzy »
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odzy

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Re: Hope you lads have pulled your super out!!
« Reply #59 on: July 28, 2018, 02:11:59 pm »

Also if you have a good record you can soon qualify for the new 3 year gov plan should it go through :)

The government’s plan to change the annual audit requirement to a three-yearly cycle for SMSFs with a good history may lead to seasonal swings in workflow for audit firms.


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