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NewsTime to give the over 50's a voice in budget debates on tax, retirement and work
Time to give the over 50's a voice in budget debates on tax, retirement and work

Time to give the over 50's a voice in budget debates on tax, retirement and work

As debate hots up before the Federal Budget, it’s time to gauge the views of those most affected by the hip-pocket issues being discussed – the over-50s.

The 120,000-member FiftyUp Club has today launched its second annual pre-Budget survey, asking the over-50s what they think about:

  • Pensions and superannuation
  • Negative gearing,
  • The GST and
  • Working to age 70

Consumers over 50 can now give their views HERE on big questions such as whether access to the pension should be more strict, the GST should be extended, or negative gearing should be ended.

They’ll also be asked about work experiences ahead of the inquiry into discrimination against older workers, announced this week (see Appendix).

Last year’s FiftyUp Club Budget Survey attracted more than 6,500 responses on pensions, Medicare and other issues and was presented to the federal government. The same will be done this year.

“Big decisions in these areas affect us not just now but well into the future and will impact on how we plan, save and prepare — so it’s vital we have a voice in these debates,” says FiftyUp Club guest commentator Christopher Zinn.

“As a group with age and experience, but not always money and influence, we need to let decision-makers know what we think before it’s too late.”

The FiftyUp Club has over 120,000 members and uses their buying power to negotiate special offers and lobby on their behalf. It’s free to join at FiftyUpClub.com

Click Here to take our 5-Minute Survey

 

 

APPENDIX

Recent Budget Related News

  1. ‘Stop rich from using negative gearing to offset wages, save $1b : ACOSS’, Sydney Morning Herald, 16 April 2015 by Nassim Khadem Read Here
  2. ‘How a 12 per cent GST could deliver a $100,000 earner an income-tax cut of $34 a week’, News.com.au, 1 April 2015 by John Rolfe Read Here
  3. 'Tony Abbott pledges to protect our superannuation: No changes during his term of government and beyond’, The Daily Telegraph, 16 April 2015 by Simon Benson Read Here
  4. ‘Age Discrimination: Federal Government inquiry to examine barriers older workers face in finding jobs’, ABC Online, 15 April 2015 by Nick Dole Read Here
  5. ‘Opinion: Politicians can’t be trusted to make decisions about superannuation’, Courier Mail, 15 April 2015 by Jeff Kennett Read Here
Originally posted on .

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Time to give the over 50's a voice in budget debates on tax, retirement and work

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terence
terence from QLD commented:

If after 65 you Need to work you should be paying the same tax as everyone else , i am fit and 68 but where are the jobs .Also Life Insurance,when you have had it for a while, should be getting cheaper as you get older and not going up every year . There will come a time ,for myself and a lot like me , will just dropout because after all the years we just can't afford it any more. 

Lynnette
Lynnette from NSW commented:

When you have huge parliamentary pensions for life plus all the other perks for life I don't think it should be people who who have worked and saved and invested who should be discriminated against. The politicians who claim these huge super payouts for life can also work and not affect their pensions , we can earn very little before we start losing part of our pension if we can find some work. . I don't see anyone doing a survey to see if this should be evened out a bit, of course the politicians won't be suggesting any cuts for them, will they? Just the workers. Let's see some fairness. 

Kevin
Kevin from QLD replied to Lynnette:

There needs to be an overhaul of taxation, taking everything everything everything into account. How a fair result can be achieved when almost without exception we say that is needed so long as it does not take anything from me, I do not know. Sure, the perks of ex prime minsters, the lurks of ex politicians in general, the huge $10m salaries of some, negative gearing, wealth limits while being eligible for part pension etc etc etc need looking at. But how in this "not me, but them" country where politicians will and must make decisions on political outcomes rather that fairness or what is right and best for the nation in the short, mid and long term; I do not know and cannot see it happening. 

Karen
Karen from NSW commented:

Pensions & Super: the term wealthy is relative and having $1million in super is not excessive especially when you are going to live from the returns of generating an income stream from it. The returns and capital value will fluctuate if not fall in real terms. Tax breaks to contribute and utilize the fund to provide an income stream should continue. Most self funded retirees would see little value in throwing away assets just to obtain a part pension or to get access to lower health care costs. This mindset will disappear as the generation that venerated having a government pension passes away. For those of us that are now approaching or are in the low 60's etc we haven't had the lengthy accumulation required to build huge balances however many of us will be unable to pass the assets/income test anyway. Treating us as lepers or as the greedy few is an absolute joke being fostered by politicians that have an absolute mortgage on excessive benefits of all descriptions. Negative Gearing: is supposed to be based on the premise of the asset being able to produce a positive income return in the future. Perhaps this needs to have a time limit placed on the time required to get into the black. If it can't get into the black in say 5yrs for the average person then it is not investment material but rather a tax dodge. The GST: I've no real problems with the GST just a huge problem with the fact that many of the taxes proposed to go or be reduced never occurred. These reductions need to be guaranteed before further increase is acceptable. Working to 70: So we are supposed to work until we drop and have no quality of life to enjoy some quiet before we quite this mortal coil ? So we live linger but what is the state of our general health, mental accuity and ability to get employment whether full or part time. What about all the volunteering that many older persons do. This is about quality of life and that is being eroded by the shear stupidity and selfishness of a wingers. 

Ron
Ron from NSW commented:

Over more than 40 years of tax paying working life, I have paid income tax of around $5 million in todays dollars (not to mention other taxes). I feel that gives me some equity in social support measures that might contribute to my financial security in retirement. I have no problem in help being given to those with little or no financial equity in the system, but it should be recognised that there are considerable imbalances in current equity/entitlement arrangements. Every time someone with little or no tax paying history is admitted to our welfare systems the economy takes a significant hit. Those impacts ought to firstly be recognised and then closely monitored and carefully managed. 

Lin
Lin from QLD commented:

GOVT NEEDS TO LOOK AT THE VERY LONG TERM UNEMPLOYED, SOME IS GENERATIONAL, I AM OVER 60 AND STILL WORKING, PAYING FOR THESE BLUDGERS AND I GET VERY ANNOYED WHEN I SEE THEM OUT AND ABOUT SMOKING, FULL OF TATOO'S. FOOD VOUCHERS SHOULD BE GIVEN OUT, NOT MONEY IN THE BANK. 

Tom
Tom from NSW commented:

Raising the GST to be a bit in line with other countries is good in theory but I object to my money going to the states that are badly performing, like Tas. & SA. because their voters are off with the pixies. The voters of these states must be accountable & wear the results of their decisions. When New Zealand's success & GST is mentioned do they have a Senate & a taxpayers funded left leaning Abbott hating ABC like we do? 

Russell
Russell from VIC replied to Tom:

THE Victorian Government 's pathetic performance giving away $600-$800 million of Tax payers money over the East- West freeway has to be the most irresponsible act any Government has done since Federation, the poor Victorian citizen doesn't need to be penalized any more. 

Someone
Someone from NSW replied to Russell:

Like I said, if voters were held accountable for their vote they may give more thought in the way they vote. 

Russell
Russell from VIC commented:

If the Government is serious about the need to fix the budget and the deficit they need to set the example by cutting back the over generous benefits politicians receive in their superannuation scheme and many of the benefits when they leave politics. 

paul
paul from NSW replied to Russell:

I agree, but after I think, 2007, weren't their benefits reduced, or so we were told 

Barry
Barry from QLD commented:

As usual you are gagging debate on the subject by deliberately failing to mention those who are in this country collecting huge incomes by rorting the system. Most of us have never been given the opportunity to have an opinion on this subject because we are then subject to rules of racism. These people in most instances have no intention of ever working yet their pool of money never seems to dry up-it only ever seems the pool of money destined for our old age pensioners (the workers who have paid taxes to support these people) is in danger. Until such time that we can operate on a level playing field we are wasting our time. 

Don
Don from NSW commented:

When ever monies become tight or better the economy fades, there is talk about pensions reducing amount paid or cutting same. Well most pensioners have worked 50yrs plus paid taxes some have super and some rely upon government support, but they all worked. Then there are school leavers non tax payers receiving hand outs to me that does'nt seem fair. By not paying this benefit to school leavers they may be encouraged to seek employment as my generation had to. 

Christopher
Christopher from QLD commented:

As a retired seventy year old who looks fit and healthy...BUT suffers from Osteoporosis, Spinal Stenosis and lack of use of right hand after broken neck can only stand for ten minutes then sit for only ten minutes, can no longer work in my trade or profession....and now the Government asks us to work longer???? COME ON. 

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