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ACT Ratepayers Bill Shock (Ratepayers Assn. Media Release)

By Canfan 15 July 2014 62

One third of ACT ratepayers will receive their rates bills in the mail today and tomorrow, many will suffer bill shock with this year’s increases averaging 10% with the total increases of the past 3 years averaging 33%. Some ratepayers paying as much as 65% more since the general new rates system was introduced just over 2 years ago.

Similar increases are forecast to apply every year for the next 17 years under the Governments radical plan to replace stamp duties with higher rates.

Ratepayers will eventually have to pay on average three times more in real terms and 6 times more in actual dollar terms.

These increases are exactly in line with the Ratepayers’ Association original projections of 2012 which were ridiculed by the ACT Labor Government & the Greens. Openness & transparency in Government is advocated in the policies of both the ACT Labor Government and the ACT Greens. However, this has not been practised, especially when it comes to general rates. ACT Ratepayers will continue to suffer bill shock every year.

The new rates system means that stamp duties will eventually be replaced by massive increases in general rates. Those who have already paid stamp duty will effectively pay twice and more, ratepayers will eventually have to pay three times more in real terms and 6 times more in actual terms on average than they would have under the previous rates system.

The ACT Government including the ACT Greens should come clean & table their rates increases projections, openness & transparency should be more than just words”, Christopher Dorman said.

(Media Release Ratepayers Association ACT)


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ACT Ratepayers Bill Shock (Ratepayers Assn. Media Release)
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HiddenDragon 10:39 am 21 Jul 14

milkman said :

HiddenDragon said :

It’s getting off-topic, but I thought the primary purpose of compulsory superannuation was to reduce the demands on the pension system from an ageing population – a forward-thinking policy which has been eroded somewhat by chipping away the originally tight rules about “double dipping” etc.

I thought the idea was to have people save for their own retirement, and to have this money parked in profitable businesses. This helps the economy as well as reducing future welfare liabilities.

At least this was the idea until previous and current governments frigged around with the rules. This has had a couple of flow on effects. The first is to skew the benefits (probably unreasonably) towards a very specific demographic. The second is to materially damage peoples’ confidence in the scheme, with people (like me) worried about future rule changes.

Personally I don’t think super will be a useful retirement investment because the rules will keep changing, so I invest in property instead.

And, of course, increasing numbers of people are doing that – directly, and increasingly now through the vehicle of an SMSF – which is doubtless one of the reasons why over-committed sub-national governments are looking hungrily at the honeypot of inflated land values and property prices for revenue.

dungfungus 6:33 pm 20 Jul 14

milkman said :

dungfungus said :

dungfungus said :

HiddenDragon said :

It’s getting off-topic, but I thought the primary purpose of compulsory superannuation was to reduce the demands on the pension system from an ageing population – a forward-thinking policy which has been eroded somewhat by chipping away the originally tight rules about “double dipping” etc.

Given the ballistic reaction to the proposed changes to pension indexation arrangements and, eventually, the access age, in the federal Budget, I doubt whether much, if anything, will be done to reduce the generosity of the pension means test – absent, perhaps, a collapse in our terms of trade, a massive run on the Australian dollar, and IMF intervention or something approaching that.

What you have alluded to in your second paragraph can happen. The current government and the RBA recognize this and that is why we need to rein the problem in now.
It may be too late to turn the ship around though as the number of takers is already than the number of givers.

The following is from anAFP News article yesterday:
“Serbia approved laws reducing job protection and raising the retirement age for women on Friday in the first steps of deep reforms to revive the seriously flawed economy, and fight high unemployment.

Parliament is also set to debate privatisation and bankruptcy law by the end of the month as part of the wide-ranging reforms.

Serbia, which is heading for a public debt of 70 percent of gross domestic product this year, began negotiations in January to join the European Union.

The labour and pension reforms are intended to increase flexibility in the labour market.

They are also intended to lower the costs of shedding staff by reducing statutory redundancy payments, while opening the way to reducing a huge public-sector labour force.

A total of 190 lawmakers in the 250-seat strong parliament supported the long-awaited laws, despite hostility from the opposition and unions arguing that the measures will hit workers too hard.

Serbian Prime Minister Aleksandar Vucic has argued that the laws are vital since Serbia has “more pensioners than those employed, and of those, more than 50 percent work in the public sector.”

The Balkan state is expected to post a record budget deficit of 8.0 percent of output this year, with growth forecast to fall to 1.0 percent, down from 2.5 percent last year.

But output could fall further by 0.2 percentage points owing to devastating floods that struck in May.”

Sound familiar?
This is the path we are following.

Socialism is a wonderful thing until whoever is paying goes broke. Then everyone is ****ed.

Time for an Australian Taxed Enough Party I think.

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