Comments on: Not all super payments count for Seniors Health Card from July 2009 http://www.superguide.com.au/retirement-planning/all-super-payments-count-for-seniors-health-card-from-july-2009 Wed, 08 Sep 2010 03:50:52 +0000 hourly 1 http://wordpress.org/?v=abc By: Dennis Doyle http://www.superguide.com.au/retirement-planning/all-super-payments-count-for-seniors-health-card-from-july-2009/comment-page-1#comment-165 Dennis Doyle Tue, 09 Jun 2009 06:20:03 +0000 http://www.superguide.com.au/?p=357#comment-165 The definition of adjusted taxable income to included return of undeducted contributions through the super fund is as unfair as could be imagined. We poor people who upon needing large costs for health purposes will lose the Commonwealth Seniors Health Card when accessing funds that have already been taxed once before being deposited into the fund. This is double taxation in its cruelest and most unfair form. we'd be better holding our savings in our own name where they can be used without penalty The concessionaly taxed and undeducted components in funds are accounted...there is no need for this. The definition of adjusted taxable income to included return of undeducted contributions through the super fund is as unfair as could be imagined.

We poor people who upon needing large costs for health purposes will lose the Commonwealth Seniors Health Card when accessing funds that have already been taxed once before being deposited into the fund.

This is double taxation in its cruelest and most unfair form. we’d be better holding our savings in our own name where they can be used without penalty

The concessionaly taxed and undeducted components in funds are accounted…there is no need for this.

]]> By: william claridge http://www.superguide.com.au/retirement-planning/all-super-payments-count-for-seniors-health-card-from-july-2009/comment-page-1#comment-107 william claridge Wed, 01 Apr 2009 02:56:32 +0000 http://www.superguide.com.au/?p=357#comment-107 the gov.are considering some/changes to smsf including abolisment of a tax free pension for persons over 60. can you reiterate what these changes might be? we had an RBL based scheme which included rebates, tax on income,etc, etc for which we planned for during the accumulation phase resulting in a satisfactory pension outcome. Then costello in his wisdom gave us tax free pension but removed the ability to pass on any residuals as death benefits to non-dependant chilren. Now they want to remove this benefit. It appears non-sensical to invest in any scheme where the outcome is so unpredictable ( many people will not invest their money into supper under this senario)& the gov.may have to pay their pension. Under the no tax senario we pay 10% GST tax anyhow. If the gov do away with income tax in favour of a consumer tax all superannuants get*******. My kids wont touch super due to the uncertainty-I would have been better doing the same. It suggested that in future the following might be legislated- 1. No tax on concessional contributions 2. No tax on income in the accumulation phase 3. Tax on pensions I have paid tax on concessional contributions I have paid tax on income in the accumulation phase The gov now want me to pay tax on pension to encourage the youth ( who have too much money to waste)to contribute to an accumulation fund the gov.are considering some/changes to smsf including abolisment of a tax free pension for persons over 60. can you reiterate what these changes might be?
we had an RBL based scheme which included rebates, tax on income,etc, etc for which we planned for during the accumulation phase resulting in a satisfactory pension outcome. Then costello in his wisdom gave us tax free
pension but removed the ability to pass on any residuals as death benefits to non-dependant chilren. Now they want to remove this benefit.
It appears non-sensical to invest in any scheme where the outcome is so unpredictable ( many people will not invest their money into supper under this senario)& the gov.may have to pay their pension.
Under the no tax senario we pay 10% GST tax anyhow. If the gov do away with income tax in favour of a consumer tax all superannuants get*******.
My kids wont touch super due to the uncertainty-I would have been better doing the same.
It suggested that in future the following might be legislated-
1. No tax on concessional contributions
2. No tax on income in the accumulation phase
3. Tax on pensions
I have paid tax on concessional contributions
I have paid tax on income in the accumulation phase
The gov now want me to pay tax on pension to encourage the youth ( who have too much money to waste)to contribute to an accumulation fund

]]> By: Vince Watson http://www.superguide.com.au/retirement-planning/all-super-payments-count-for-seniors-health-card-from-july-2009/comment-page-1#comment-105 Vince Watson Wed, 01 Apr 2009 00:55:16 +0000 http://www.superguide.com.au/?p=357#comment-105 Very impressed with your articles on CSHC. Consider the major worry for Self Funded Retirees is the costs on medical expenses in later life. Although private health insurance covers some of these expenses, if one goes to hospital under specialist with MRI and Cat Scans Blood tests etc the aged are being held to ransom by the medical profession. With the proposed loss of CSHC by many Self Funded Retirees is eating in to their nest eggs especially after the collapse of the share market is enough to bring forward their journey to the pearly gates by either natural events or jumping off a cliff. Very impressed with your articles on CSHC. Consider the major worry for Self Funded Retirees is the costs on medical expenses in later life. Although private health insurance covers some of these expenses, if one goes to hospital under specialist with MRI and Cat Scans Blood tests etc the aged are being held to ransom by the medical profession. With the proposed loss of CSHC by many Self Funded Retirees is eating in to their nest eggs especially after the collapse of the share market is enough to bring forward their journey to the pearly gates by either natural events or jumping off a cliff.

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