Should Over-65’s Pay More Tax?

Here we go again - look to the over 65's as the reason for our budget problems. Perhaps the Grattan Institute should concern themselves with checking out all the lurks and perks that politicians get - I would suggest that bringing their superannuation, benefits, and overinflated pensions in line with every other tax payer would return a much higher benefit to the budget than gouging more tax from pensioners who own their own home - at least the majority of our older generation have worked hard, paid their taxes and saved to own their home and not leached off the public purse as the politicians do! 

Please explain to me where and when will I benefit from concessions. I worked all my life, paid 48 cents in the dollar tax, frantically paid full superannuation so I didn't have to rely on a pension. I guess you could call 2 free donuts with my coffee and a concession on my two perscriptions each month a benefit. I am needless to say one of those winging self funded retirees. P.S. I didn't get paid maternity leave and child endowment ended before my children or I received any benefit from that. 

I think it would be more appropriate to stop salary sacrificing as this can no longer be afforded. The difficulty I would have losing some of the tax benefits is that we are already subsidizing homeowners with the pitiful interest rates we can get on our savings and we have no ability to increase our income to cover the cost of losing the tax benefit. As for including our home in the assets test, do we have to decide whether we get to stay where we are or eat. You sure cannot eat an asset! Perhaps the government could lend folks the aged pension and then take it back from their estate with a equivalent interest rate as HECS rather than force them to sell their home & move (very traumatic!). 

OK. This issue is going to become more and more important, I'm sure. Those over 60 - 65 will need to be well informed as well as well represented in government if good, solid and constructive decisions are going to be made and implemented. We are a growing force full of experience and wisdom and are not about to be duped into parting with hard earned and carefully saved income, especially if we are to live longer with better quality of life. Include the home and the middle group of retired will soon be joining the ranks of full pensioner due to the increased tax burden placed on them. What , for heaven's sake, does that prove? Kind of reminds me , in a way, what is happening to the middle class in America. If I am going to part with some of my modest super it will be to support a well recognised body of highly experienced and talented retired seniors who will stand up and exact influence on the government of the day. What we need is a benevolent/paternal dictatorship building solid and lasting polices or a parliment well represented with an appropriate number of older and seasoned members representing our interests. As you may know Democracy is the weakest form of government. 

When working out a retirement package 12 months ago A full pension was calculated in my package Now my super is part of my assets and I lost part pension payments Still that was not enough now they want more I will be actively camping against any politician that keeps taking money from the pensioners Greg 

Pay more tax, yer get the oldies they wont fight back. What about the lurks and perks these pollies have they are not on the same page or planet. Hey easy to complain when your younger but you will pay tax all your life and I hope you have a better super plan than us oldies. 

Each person of a couple of over 65 years can earn $28,974 each , totally tax free , or a single person can earn $32,279 totally tax free each financial year . Add to these tax free thresholds any franked credits from share portfolio , and a reasonable sum can be earned plus superannuation withdrawals totally tax free can be added to give a person/s a reasonable weekly sum to live on , in addition to the part age pension that they can also be entitled to each fortnight , So in our case we have been retired for 12 years and have enjoyed the full capabilities that are available to persons over the age of 65 , and are just above the comfortable living standard of ASFA as a couple, and we have not paid any taxes for those 12 years of retirement . I do get a little upset when I hear the seniors of 65+ complaining , and yet we to , did pay our taxes in our fortnightly wage each payday when we were working , plus superannuation only started in 1985 , and it was not at 9.5% , so I only had 19 years of contribution super of my 48 years of working for the same company . Over 65's do get reasonable tax concessions . 

Once again the Canberra and inner city centric make us seniors feel like 2nd class generation. Any security I have accumulated for retirement was mostly at 46% taxation on earnings and 15% up front tax when some went into superannuation. Will the public service, politicians and media get off our backs. There are more of us that most pressure groups that gutless governments seem to pander too. I watch ,read & listen to the bleating of the media that simply don't understand. The silent majority are sick and tired of INDEPENDANT OR BIPARTISAN, commitees, commissions, enquiries or whatever the public service class want to call them. They are sick of the excessive people that are greatly overpaid by the public purse 

I recommend there be no more pay rises for public servants or politicians until the budget is returned to surplus and thereafter no more than the inflation rate. If there is a backlash and public servants threaten to leave for more lucrative private sector jobs, great...the size and cost of government will be reduce. 

People seem to forget that the over 65's have been paying taxes all their working lives in order to pay the pensions for the previous generation and for that some ill informed spender thinks we all should be penalised. I suggest we should reduce the baby bonus to the first child only, the governmant should NOT be paying paid parental leave under any circumstance. People who choose to have children should understand their responsabilities and not expect the general taxpayer to foot the bill for their personal choice. What happens to people who lose their jobs at age 50 and are unable to find employment to increase their super......newstart until aged pension ? Bud from SA.