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Go to - FDNC NEWS FORUMS > Australian - Latest Political Stories > Turnbull government uses millions of super account

Posted by: Flin Jun 1 2018, 09:40 AM
Turnbull government uses millions of super accounts to boost budge
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The Turnbull government has hoovered up more than $2 billion in inactive superannuation accounts and claimed the revenue as its own, saying it does not trust the superannuation industry to reunite the accounts of millions of Australian workers.

New Tax Office figures show more than 4.1 million "lost" super accounts with balances of up to $6000 have already been taken by the Australian Tax Office but the ATO will not have the power to automatically redistribute them to the account holders unless measures are passed from the May budget.

The May budget papers show the government has also added another $1.1 billion taken from inactive accounts to the underlying cash balance over the next four years and will gain $166 million in tax from the super accounts it has scooped up with higher balances thanks to lower fees.

The Tax Office has asked people who believe they have inactive super accounts to use their online service, where they can proactively merge their accounts using their tax-file number.

All that money is driving their mean spirited greedy hearts into overdrive.

Posted by: scepo Jun 1 2018, 10:21 AM
Just taking a leaf out of Labors book.

Remember what Labor did with inactive bank accounts.

They are all greedy treacherous grubs.

Posted by: Phillip J. Jun 1 2018, 11:19 AM
Well, that's nothing more than pure thievery! Who cares if an account is "inactive?" The fees would still be being paid by the customer, and don't say that the account ran out of money, because if it had've, what could the greedy bastards even "scoop up?"
How is the government able to just steal a citizen's savings? What happened to "Your money's safe with us!"
I am completely angry, pissed off, and flabbergasted at this whole highway robbery action!
Is Turnbull for us, or himself? I already know the answer!

Posted by: charka Jun 1 2018, 11:47 AM
It just gets better Last night Pauline was mocked by lefty presenter At least she showed true emotion Look at these thieves

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