add people who earn $250,000 are taxed at 30%. however income earned in Super is only changed at 15%, which is the same as those who earn below $250,000 per year, which is the reason why there is a yearly Cap $27,500.
Yes, you are correct that this tax would apply. However, for the purpose of explaining the maths behind compounding returns, I simplified that part by assuming no tax. Thanks for the comment :)
The biggest money laundering scheme in history, they take your real money, then buy shares saying they are worth X. Then they charge fees for doing so, as well as you pay tax on the supposed value of those shares. But then after some years they say, there's been a stock market crash and those shares are now down by 40%, so your hard eared cash is now worth a lots less. If I was to put that same 10% of my income into a minimum interest account times, the years worked constantly compounding, I can say I would definitely have more money than I will ever have in my super account. Fact!
Super is money which would of been paid to you for your family going into a lucky pool. Video forgets to mention tax at all 3 stages, insurance premiums and loss of value due to CPI. If super so good why isn't it optional? That explains it all. Stop shilling for this industry which would die without legislation.
Thanks for the comment. This video is intended to explain Super in a mathematical sense - no politics included. The reason for making super mandatory is due to irrational consumer behaviour in that we are bad long-term planners and savers. We are not good at putting money away for decades later and accounting for CPI etc. If it was optional, we would have millions of people suddenly relying on more government handouts after retirement, thereby requiring higher taxes to fund it. What is your proposed solution?
@@jeddle Whats the point of super if it makes no difference when you retire, if you have a house to sell you have to pay a rad at age care, if you have over $50k you pay DAP, if you have no cash you get a supported place for free. Isn't that the point of working hard, to get away from all the crap people who leech off the system, but now they get just the same. Super takes money from families with kids when they need it most in there life so it can be taxed three times to be returned when they need it least. I say we be a little bit less socialist and stop with hundreds of safety nets which get abused or relied on by people who don't need them because they exist. Super is a hidden tax like the other hundred+ taxes mention in the tax review under PM Julia. Before socialism, one man in the 70s could buy a house on minimum wage, with socialism now two people working can barely afford a house because their paying there hundred+ taxes directly or indirectly. Your a clever cookie so its sad to see you spewing lies about how people are so useless and need government. People have their whole life to prepare for retirement, if you mess it up, it shouldn't be the average man problem to solve for you, leave it to the family,s and if people have been a fool to their families then they can go to the charities. Its against the fundamentals of animal logic and reasoning with regards to socialism, yet we wonder why we have a generation of mental problems caused by it. Super motto should be, "super, a capitalist path to socialism".
Valiant effort explaining Superannuation mate!!!!!!!!!
add people who earn $250,000 are taxed at 30%. however income earned in Super is only changed at 15%, which is the same as those who earn below $250,000 per year, which is the reason why there is a yearly Cap $27,500.
Thanks Jonny
You're very welcome! Thanks for watching :)
you forgot to add/explain the 15% is taxed off that $10,000 so $1,500 removed for tax, so only $8,500 goes into your Superannuation
Yes, you are correct that this tax would apply. However, for the purpose of explaining the maths behind compounding returns, I simplified that part by assuming no tax. Thanks for the comment :)
The biggest money laundering scheme in history, they take your real money, then buy shares saying they are worth X. Then they charge fees for doing so, as well as you pay tax on the supposed value of those shares. But then after some years they say, there's been a stock market crash and those shares are now down by 40%, so your hard eared cash is now worth a lots less. If I was to put that same 10% of my income into a minimum interest account times, the years worked constantly compounding, I can say I would definitely have more money than I will ever have in my super account. Fact!
Super is money which would of been paid to you for your family going into a lucky pool. Video forgets to mention tax at all 3 stages, insurance premiums and loss of value due to CPI. If super so good why isn't it optional? That explains it all. Stop shilling for this industry which would die without legislation.
Thanks for the comment. This video is intended to explain Super in a mathematical sense - no politics included. The reason for making super mandatory is due to irrational consumer behaviour in that we are bad long-term planners and savers. We are not good at putting money away for decades later and accounting for CPI etc. If it was optional, we would have millions of people suddenly relying on more government handouts after retirement, thereby requiring higher taxes to fund it. What is your proposed solution?
@@jeddle Whats the point of super if it makes no difference when you retire, if you have a house to sell you have to pay a rad at age care, if you have over $50k you pay DAP, if you have no cash you get a supported place for free. Isn't that the point of working hard, to get away from all the crap people who leech off the system, but now they get just the same. Super takes money from families with kids when they need it most in there life so it can be taxed three times to be returned when they need it least. I say we be a little bit less socialist and stop with hundreds of safety nets which get abused or relied on by people who don't need them because they exist. Super is a hidden tax like the other hundred+ taxes mention in the tax review under PM Julia. Before socialism, one man in the 70s could buy a house on minimum wage, with socialism now two people working can barely afford a house because their paying there hundred+ taxes directly or indirectly. Your a clever cookie so its sad to see you spewing lies about how people are so useless and need government. People have their whole life to prepare for retirement, if you mess it up, it shouldn't be the average man problem to solve for you, leave it to the family,s and if people have been a fool to their families then they can go to the charities. Its against the fundamentals of animal logic and reasoning with regards to socialism, yet we wonder why we have a generation of mental problems caused by it. Super motto should be, "super, a capitalist path to socialism".