Have you seen The
Hunger Games?
The Hunger Games is a trilogy which we stumbled
across whilst researching what film to attend for a Tuesday night. It was our
choice as the Orwellian theme resonated with our other readings of late.
The concept was of Big Brother Government &
the political classes having 12 areas of populations annually fight in a
gladiatorial contest with one survivor out of 24. The gladiatorial concept
might have been extreme but it’s not that different from current cage fighting
or the Roman circuses of the past.
A trilogy suggests the theme globally hits
the mark. When we reread George Orwell’s 1984 then how far away are we now from
that?
Hence as was on every phone booth ‘be alert & alarmed’ as they want your money.
Thank you
Bob Down.
Why? They have promised in every election since
Federation that they will look after you & care & defend you. However
as Europe is or has discovered that they have run out of money to fund these
promises. Only last night on Sky Business we saw an older money trader saying
that the pension will have to be deferred until much later as we are all living
longer. We explained this week to Dan that for him today it is 67.
It is in
fact the unseen liabilities of health, government pensions & today aged care that amount to trillions globally.
Hence those taxx sniffer dogs for your money today.
Joe was very right when he commented that the
West is stuck in ‘an age of entitlement’. Tony No commented otherwise but the reality is
there.
Hence we are caught between saving taxx today
or risking it in a super environment where the political classes change the rules
during play as they did in The Hunger
Games.
There are loud suggestions that there should be more bonds
meaning government bonds in your super. Yeah lets have some Greece or Spain or
even Australian bonds in our super.
I.e. using your money to fund some
white elephant or the neighbour’s smoker’s leg amputation.
It is suggested today that the upcoming budget there
will reduce superannuation concessions as at present super is a ‘tax haven’ if you are earning more than the current $37,000.
We
also read the taxx man holds $730,000,000 of your lost super. That is better
in your account than theirs because they don’t give you any interest & you
could have it earning more than zero. It will buy only ½ that in 24 years if government
inflation is 3% or ½ in 7 years with
real world inflation of 10%.
Hence a time to be proactive & we suggest
before the budget which is 8th May.
There are currently a number of
provisions that could be maximised & we can be contacted on www.JohnMcAuliffe.com.au
As Robbie says ‘play what’s in front of you’ & you can only play according to today’s
rules.
However
the political classes need to be very aware of the Arab Spring & that the Great Wall of China confiscated so
much taxx that eventually the ants opened the gates & let the hordes
in. That is why it is still standing.
We had a local reminder of Big Brother when the
Police Minister had to resign as he hadn’t paid a speeding fine. When those
arbitrary fines could fed a family for a week then it is usury.
We read that
the Land of the Free is intending to legislate that if you have a ‘'seriously delinquent tax debt’ i.e. greater than $50,000 then under MAP- 21 your passport could be revoked.
Hence minimising taxx today is judicious with
the proviso of be alarmed tomorrow.
We suggest a time to be proactive is before the
budget which is 8th May.
There are currently a number of provisions that
could be maximised & we can be contacted on www.JohnMcAuliffe.com.au
As Super may have downsides in the future or
you have maximised it today then there may be other alternatives that you may
prefer to address.
We could give you a list including having the Taxx
man subsidise your DEBT.
Will you need to use your super to pay off
your DEBT on retirement? Not if the
rules change & there is no access to a lump sum.
As you are different then personal advice is
smart & wise & welcome for lunch here anytime.
John McAuliffe
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