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Archive for July, 2009

Pay everyone the full pension

July 30th, 2009 8 comments

Now if everyone was paid the full age pension the number of pensioners would increase to 2.37million( 1.85*100/78).

Dividing 18billion by 1.85million pensioners gives an annual pension of $9729.72 paid to each pensioner.

If the full pension is paid to 2.37million pensioners the cost would be $26.24billion($11073.40*2.37=$26.24bill.) and some of the extra cost would be recovered by the Government through taxes and savings on administration costs.

These figures are based on that time.

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Savings and Superannuation

July 30th, 2009 2 comments

26 October 2003

Watching inside business I noticed that some commentators suggest that the compulsory super-levy should be raised maybe as high as 15% to increase the savings rate of the ordinary people.

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Pension Scheme/ Letter to Politicians

July 30th, 2009 2 comments

I’am a part-pensioner, with some Superannuation and a small overseas-pension.Being on a defined benefit pension, my income is virtually constant and cpi indexed, but with every rise in the super and overseas-pension my Centrelink pension is reduced by 50% and a further 30% due to taxation plu 1.5% medicare levy leaving me with $0.185 in every dollar.

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Mr Costello and budget surpluses

July 30th, 2009 No comments

This Government may boast about huge budget surpluses, but at whose expense are they achieved. The highest taxed section of the community are definitely the part-pensioners, who pay often 30% tax on top of 40% loss of pension above an income of $15241.00 single or $25771.00 for a couple, added up equals a tax equivalent to 70%, and no matter how one looks at it, it is still a tax.

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Control of Telstra

July 30th, 2009 3 comments

I wonder what will the media write, once the Telstra saga is resolved; apparently Helen Coonan and G.Samuel never seem to look at the TLS share-price; most TLS share-holders wish that they never heard of TLS, and Coonan as well as Samuel probably invest their spare cash in Bank shares. What should be done with TLS:one suggestion,why doesn’t the Government buy out the other Shareholders and place TLS back in public ownership; but if they buy at the current TLS price, it would be daylight robbery, as even with the dividend, very few shareholders would be even on their investment.

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