Treasurer has his eye on older Australians

This is quite a misleading, incitefull and disingenuous question in that it suggests the new Federal Treasurer is targeting us oldies. If you’ve stored away your wealth like a squirrel with his nuts, why not spend it in your twilight – it’s 100% better than going on welfare. If you’re destitute, disabled and welfare dependent for reasons outside your ability to resolve, then that’s as good as it gets. Why grizzle all the time? Life is short so get on with living. No-one owes anyone a living but the basic Government packages are available for a reasonable life, a welfare offering that’s better than most countries in this world. 

In the current climate with less earning capacity during working life, divorces etc this leaves women very short of superannuation or retirement income. When it comes time to more into retirement accommodation often the family home doesn't even cover the cost of that. Why should all the companies with retirement settlements be able to earn 30% of the total price of these places when they already charge $100s to pay for things each week as well. Our government makes the rich richer and there is no incentive for the ordinary Australian people. Most of us are already still working part-time and baby sitting so our children can work as well as trying to support their children, the future Australians. We need tax relief, not more money being taken from us. We have worked from the age of 15 to 66 and over that, for this country. 

I have a question. Where are we going with this?????? After they have robbed us of our already heavily taxed retirement savings and forced us out of our homes in order to cash up will that bail us out of governments mismanagement of tax payers dollars. Wish they could save and invest as well as us instead of grabbing quick cash and p---ing up against a wall. 

I don't know about the proposed changes, however, I am 56 worked all my life from age 18 (some times two jobs) paid my taxes invested in property and took early retirement at 55. I'm what you call a self funded retiree. Why am I still having to pay tax !!?? when I will never be eligible for a pension? I don't have a lot in my super either as I live off the rental from the investment properties. Furthermore, these properties one by one are needing new kitchens/bathrooms etc. I can only afford to do the work very slowly step by step room by room. If I sell then I'm up for CGT which is an absolute killer. I am disillusioned with the whole tax system in this country and am seriously thinking of moving o/seas. I just wonder what the hell does the treasurer think he is doing to "older Australians" and those that have worked and are self funded retirees. I will never see any of tax money I have paid over 40yrs which when I started working was suppose to be a pension for me when I retired. Lucky country....don't think so, 

National debt up, revenue down. Simple solution, start with the Politicians. Even someone like Wyatt Roy could retire soon and be on a pension of around $180,000 plus perks. Then go off and get another job in the private sector. No waiting until they are 70 to access their pensions. Wouldnt we all like to take our kids to Uluru and fly business class, or take a helicopter flight if time does not permit a road journey!! Let the politicians show the way to surplus. Maybe then we might show some faith in them. At the 'moment none of them are to be trusted nor is there any such thing as loyalty anymore. 

The deficit is running at $40bn per year and our current debt is above $320bn and we have high corporate and personal tax rates when compared with the rest of the OECD. Unmanageable debt, rather than the risk of global warming, is truly catastrophic - just ask the Greeks. Many contributors are angry about politicians' entitlements. Changing their entitlements - particularly their travel entitlements - and no more pay rises would show the rest of us their credentials in this sphere. We should write to our local members to tell them that something needs to be done, starting with them. Relying on tax payers won't work. Cutting the public service would make a further contribution, and reducing growth in health and education - two of the most expensive areas - also would help. And we need to accept that politicians don't make decisions like cutting benefits to remain popular. When the aged pension first came in, most people did not own their own home, today they mostly do. Accumulating capital is done to provide security and income - but the capital is there to be used when it's needed. In an ideal world everyone wants to hand on something, but reducing the debt and deficit would provide a brighter future to the next generation. Di 

I agree with the threshold of $840,000, in order to receive a part pension. After all that is the money that is meant for when in retirement. I am 80 years of age and still paying tax. I don't get anything from the Government, nor do I want anything. I worked hard and saved. I did not go to clubs, expensive restaurant or many holidays. 

I agree with the threshold of $840,000 in super, in order to get a part pension. After all that's the money one should use in retirement. I am 80 years of age and still paying tax I get nothing from the government, nor do I want anything, but worked hard, saved and did not spend it on pokies, liqour etc. Ada 

What did the people of our country expect was gonna happen ? the writing was on the wall decades ago. 

Back to the large fridge problem, it is an ASSET when a pension is applied for under the ASSETS TEST and must be declared like any other valuable goods, however a home is excluded, so you could own a multi million dollar home and get a full pension. However, if the sum of $1,151,500 is in a pension fund or bank deposit, retirees would not be entitled to any pension under the ASSETS TEST and there is a proposal to reduce this amount to $840,000. The system gives little incentive to those who try to look after themselves and reward those who thwart the system and get a full pension. Deeming rate on $1m = $31,000 pa, full pension $34,000pa for couple. Why save???