Labor Government to raid dormant bank accounts

Looks like our Federal Government is really, really broke.....

Maybe our unclaimed super will be next......!!!

http://www.couriermail.com.au/news/...nts-to-be-seized/story-e6freon6-1226585867131

 

That is clear outright theft. Hopefully the news media gets the word out and people with vulnerable accounts make really quick withdrawals our deposits to protect their money.

Here is a question: what do you think the chances are that this threat, or people seeing the government actually take some people's money, will kick off a bank run and prompt people to try to take all of their money out of the banks?

I could see it happening, and if it does it would mean a real crisis for Australia.

 

This farking b!tch knows she's going to lose, looks like she'e hell bent on doing as much damage as possible.

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They are already stealing people's super....but what is to be expected from these bunch of parasites? oh and look at the excuses they are using, they are stealing our money and it is for our benefit........ They are now looting what ever is left after they sold off to international bankers our most profitable assets i'e Comm Bank, Telstra etc...where else were they going to make up for the short fall in revenue.....?loot the people is all they have left!
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Unclaimed super set for Tax Office
October 23, 2012

MILLIONS of dollars worth of lost superannuation is set to be transferred to the taxman, under a move the government says will save members from paying unnecessary fees.

In a measure announced yesterday, the government will collect an extra $675 million by lowering the threshold at which lost superannuation accounts are automatically moved to the Australian Tax Office.

At present, super accounts of people who cannot be contacted are transferred to the Tax Office if they hold less than $200 and there have been no contributions for five years.

But from January, lost super accounts will be transferred to the ATO if the account's owner cannot be contacted, there is less than $2000 in the fund, and there have been no contributions for one year or more.


With the nation's lost super accounts holding about $17 billion, the change will deliver to the budget $675 million in savings over the next four years.

The unclaimed money will be held in trust by the government, and will deliver a boost to budget coffers unless it is reclaimed its owner.

Members can reclaim their lost funds from the Tax Office, which will pay interest equivalent to inflation on their unclaimed super.

A spokesman for the Superannuation Minister, Bill Shorten, said the changes would mean people did not pay unnecessary fees on lost super.

The opposition's spokesman on superannuation, Mathias Cormann, accused the government of using lost super to prop up the budget.

Deanne Stewart, the general manager of superannuation at BT Financial Group, said it was a positive outcome for members with small accounts.

"If someone left $200 in an ATM machine, they would drop everything and rush back to get it. Every day, Australians lose $3.8 million of superannuation. We want to help them find it,'' Ms Stewart said.

The chief executive of the Association of Financial Advisers, Richard Klipin, said the changes were likely to benefit some members, but others stood to unwittingly lose insurance purchased through super.

Read more: http://www.smh.com.au/opinion/polit...-tax-office-20121022-281ig.html#ixzz2LzlPxmy6

 

I`m not surpriesd, disgusted, but not surprised.

 

Oakshott, Windsor, Katter and Thompson opposed it. Does this mean the coalition supported the bill?

 

Link please...

 

Fears legislation was rushed
“Obviously some of that money will be claimed back, but in the interim it counts as the government’s money.”

The government sought to rush the legislation through Parliament. This was opposed by the finance industry, as well as independent MPs Rob Oakeshott, Tony Windsor, Bob Katter and Craig Thomson.

http://www.afr.com/p/national/budget_grab_for_inactive_bank_accounts_L7FcFwa3pvczK6mmq7PvDP

It sounds dodgy despite bipartisan support, which seems to be the case. It would not have got through had the opposition and independents both opposed it together.

 

If this legislation was passed with the help of the opposition, then I shall urinate on both sides of Parliament...
This is nothing but legalised theft....and penny pinching at that.....imagine the bank accounts with bugger all in them...thats how low this government will go to get their grubby hands onto our money....thieving b@stards......
Why introduce the Bill in the first place.....because they need every rupee they can get....all this from a Treasurer
who is at best an ex TAFE teacher.....christ help us......

 

Yeap,
those bastards should be nailed on a cross, but don't worry, even the Libs would do exactly the same. All bastards.....

 

But it was only 6 years ago that the libs were in power for 11 years and they did nothing like these idiot Labor clowns did...like get the country 260 billion into debt then to try and find some money ....they resort to stealing people's money from their banks accounts and Super. When the Libs were in Power there was no debt...we were in surplus FFS!

Don't get me wrong the Libs are scum as well, but they didn't turn Aussies into debt slaves like these moronic ALP did in only 6 years!

 

Outrageous!!! If I were an Aussie I'd grab my rifle and,,,,,,,,,,,,,,,,oh,,,, never mind.

Seriously though that is just downright dispicable. I wish you down under the best now that your government has declared war on its people.

 

So let's have a wee look at what is wrong with this picture on this thread where the parasites are stealing peoples money from their bank accounts and Superannuation and what the parasites ruling the country are doing for themselves?

Anyone still think Citizen Initiated Referendum System in this country is a bad idea to get some kind of control over these parasites called politicians?

Oh and gotta luv how they say their pay rise is given to them by an independent body when this independent body is appointed by the parasites themselves! (freakin insulting aren't they?) They are focking looting the country...WAKE UP FOLKS!

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Politician's pay rise
Wednesday July 4, 2012



The independently administered Remuneration Tribunal approved the pay increases in March, with the new salary scheme kicking in last Sunday.
Advertisement

The increase means a backbencher will get an extra $106 a week, taking their salary to $190,550.

Combined with the massive pay rise MPs received in March, the annual salary of a backbencher has increased by $49,640 compared with a year ago – about $1000 a week.

Prime Minister Julia Gillard's salary rises by $14,430 to $495,430, meaning she is earning a whopping $129,064 more than she was a year ago – or almost $2500 extra a week. Opposition Leader Tony Abbott receives a $10,267 increase, taking his annual salary to $352,517.

Mr Abbott is an impressive $91,834, or $1766 a week, better off than he was year ago.

Although pay rises for politicians almost always coincide with an outbreak of bipartisanship, at least two officials have criticised the decision.

Read more: http://www.smh.com.au/opinion/polit...ps-pay-rise-20120704-21gfu.html#ixzz2M0w9AGEB

 

I'm surprised Gillard and her cronies haven't dreamed up another new tax lately....
At least Howard gave us our super tax free when we turn 60, kevy on the other hand raised the pension age from 65 to 67. Yep, Labor are real friends of the working man.

 

John Howard was not responsible for our surplus, it was China and China alone demanding our assets in never seen numbers before....

 

Please tell me you aren`t serious.

- - - Updated - - -

Please tell me you aren`t serious.

 

You are absolutely spot on M2. If he couldn't deliver a surplus in those years, he would have simply been giving too much of the tax payers dollars to his brothers failed company.

 

You guys live in the past too much. The thread is about Labor and its money grabbing mitts getting into
dormant bank accounts. I dont give a fig about the past....

 

I think the timeframe for 'lost' super was more or less reasonable before, Labor is making it far too short.

I don't recall specifics though.

Politically speaking, this is pretty rough. It makes them look desperate.

 

LOL... government budgets are not the governments making they are another countries. Perhaps you consider that China gave all the money to the government to spend and save.

Or do you consider that foreign debt was in surplus?

You cannot have it both ways, you are complaining that the Howard government did not spend money and then complaining the money they did not spend, was not put in the bank to create a surplus... Go figure.

 

can't help a little bit of digression magoo! I'm not happy about labor getting their mitts on our money, and I'm also not impressed with the coalition driving the getaway vehicle either for that matter.

 

Gee truthy,...sounds like you are finally getting the picture that politicians also known as disgusting parasites need their un-earned powers they have given themselves to be reigned in....Hence why this country urgently needs to implement a Citizen Initiated referendum System....oh but wait you are a Labor stooge aren't you...? so I bet you think it will be a bad idea to you....Labor scum must have all the power to fleece the people to pay the focking bludgers...right? (noticed that by your "little bit of digression" when you should be totally outraged what this Labor scum are doing, stealing peoples money from their bank accounts)

Just a little bit digression eh? you really are pathetic!

How about calling for these thieves (politicians) to be arrested?

It is now getting to the stage that all statute laws made by these focking scum called politicians be rescinded and just go back to common law...which is just common sense!

A Citizen Initiated referendum System will auto revert our laws back to Common Law and these thieving a.ssholes called politicians will have no choice but to only make laws based on common sense (which basically makes the ALP obsolete)

 

I'm not totally outraged.....lol. A CIR certainly won't work.....wholly heeeelll, just imagine the billions and billions gone down the drain in advertising. Start saying the serenity prayer buddy, it'll relieve some stress in your life.

 

Wayne Swan was a creepy crawley in a septic tank in a past life. He did such a bad job that he was demoted in this life.

 

Gee how did I guess that a Labor stooge is opposed to CIR.....? Funny isn't it early last century CIR used to be one of the things the Labor party was trying to introduce....then the bankers got control of the party and now they are oposed to it. Oh lets us know why it woyuld cost billions or is that just a figure you pulled out of thin air....like swans surplus?
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Anyway here is an example of it, please give us an exapmle of where it doesn't work!
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SWITZERLAND: In over 100 years of Citizens' Initiated Referendum (CIR), after voting on 300 issues, the Swiss people have approved approximately 50% of issues placed before them. In 1977 the people rejected a value added tax; in 1986 they rejected a proposal to join the United Nations; in 1984 the people rejected the government's proposal to reduce the working week from 42 hours to 38 hours. Switzerland today is one of the most prosperous places on earth.