WEDNESDAY'S editorial, ("Has PM backflipped on super reform?", Editorial, 1/3), seeks sympathy for the offspring of the extremely wealthy "as the ultimate beneficiaries of their parents' accumulated assets" when considering the fairness of Labor's extra tax on super accounts.
The whole idea of superannuation is for a comfortable retirement. It was never intended as a wealth-making vehicle for inheritances. Prime Minister Anthony Albanese makes the valid point that it is difficult to argue that multimillion-dollar accounts are just for retirement. Previous governments have turned super into a wealth protection racket for those who can game it at the expense of those who can't and the wealthy are milking it for all it's worth.
Superannuation tax concessions costs taxpayers $52 billion per year. That's money that doesn't get spent on schools, hospitals and public infrastructure. Those on small super balances get a little of that in support, but the Grattan Institute found that accounts of $1.6 million receive an annual tax break of $60,000 per year. In any case the super wealthy will be taxed a measly 30 percent instead of 15 percent which means they'll do one of two things: either put up with it because they'll still make bucket loads, or funnel it off to some other wealth-making scheme at taxpayer expense. In the meantime, won't somebody think of the children?
John Arnold, Anna Bay
The rotten core of electioneering
WITH all these election promises being given out, they never seem to amaze me how they treat the public as idiots with it all. Prime example was many moons ago when Howard went to an election and promised everything possible just to win the election. Can anyone of that time ever forget this?
As soon as he won the election all promises were forgotten. When reminded about them, he responded with arrogance that only some were core promises and the rest were non-core ones. Now Opposition Leader Peter Dutton is complaining about Labor not abiding by their promise not to touch superannuation. Well maybe it is because it was a non-core promise, mate.
Les Woodard, Beresfield
Savings aren't a federal slush fund
IF the superannuation changes are to be more equitable, wouldn't the tax increase for $3 million deposits be applied to people under that cap through a reduction in their tax? As announced, I fear the hike may yield a much lower amount for the government, setting up a further tax grab.
Superannuation was proposed to enable people to take the burden of the taxation system to supplement government pensions, not create a pool of money for governments to splash around at election time. Here we go again: governments creating uncertainty around super while underfunding the aged care system.
Grahame Danaher, Coal Point
Let's get policies back to basics
IT could be said that I told you so; Albo is now attacking those who will, in the long run, save the country big bucks by financing their own retirement. Yet, on the other side he squanders millions on a vote (the Voice) that will be divisive and in my opinion put equality back 100 years.
If a party chooses to stand to run the country, they firstly have to choose a good candidate; good intelligent people who know how to run a country, and above all, speak the truth. This country has enough problems in my view; we have to stop immigration, put money available into affordable housing, make properties available for our existing Australians and make living in this country affordable. We must get our priorities right; it is a lot of good marching in Mardi Gras, but I feel that the Labor party should evaluate its policies and get down to basics - housing, welfare, hospitals, schools - and then start immigration again.
Dennis Crampton, Swansea
Wind farm would be a blow
I WAS shocked by Chris Bowen MP's announcement of the Hunter offshore wind farm off Newcastle beaches and visible from land. Community sessions are being held next week and there is also an online form to express any concerns or objections. Sadly, I believe few in Newcastle are aware of this. Coverage has given it only a brief mention, espousing all the jobs it might offer. No mention of any threat to our fisheries industry, tourism, housing prices, whales, and the absolute blight on our beautiful Australian coastline. My understanding is that we are importing the turbines and have to replace them in under 15 years due to corrosion.
My personal opinion is we have no right to erect turbines in the ocean. Australia has a large land mass with a tiny population that can house the wind farms, so we have no excuse for degrading the ocean. We have a right to a say in our future. We pay tax for government to work for us, not trick us.
Lisa Rudd, Charlestown
Rule changes music to the ears
YES please ("Labor to alter music rules", Herald 23/2), especially if they will give local councils the power to "dramatically strengthen" rules to support live music venues and plan on "bringing back lost venues". Extending venues' hours and lowering licensing fees would be a great way to help Newcastle's live music scene. I think such a commitment is very welcome, as is working through noise issues with councils and communities (something I feel is long overdue), rather than just bowing down to demands and complaints.
Swansea MP Yasmin Catley notes things don't need to be done the same way forever. I couldn't agree more. I too want cities to be vibrant, and also agree that cities aren't vibrant if there aren't people in them. This would be music to the ears of thousands of live music lovers, who greatly outnumber those who oppose live music.
Adz Carter, Newcastle
Compo process may be simple
IPART will determine the amount by which the value of the Port of Newcastle lease was decreased because of the government's 2013 commitment ("Fair outcome': Port backs compo process', Herald 1/3) but the difference should be clear.
The successful bidder for the Newcastle lease was also the unsuccessful bidder for the Port Botany and Port Kembla leases. Hastings made an indicative bid for the Port Botany and Port Kembla leases in the second half of 2012, but it was low compared with Treasury's retention values for the assets. Their final bid was just $14 million lower than the successful bid of $5.07 billion by the NSW Ports consortium.
In my opinion the subsequent reduced bid for the Port of Newcastle lease in 2014 relates directly to the increased bid for the Port Botany and Port Kembla leases in 2013. Does IPART know this?
Greg Cameron, Wamboin
SHORT TAKES
WHILE we are investing billions of dollars in defence, overseas charities in countries who have suffered disasters of which I support, when are we going to properly help those people in Lismore and the many people who have suffered with the unusual extensive fires and floods? I believe Liberal, Labor and the Greens should prioritise funding for them immediately.
Gerry Mohan, Shoal Bay
DARRYL Tuckwell, (Short Takes, 28/2), I think your belief that the Morrison government allowing people to access some of their super during the COVID lockdown period was to make them work longer is really clutching at straws. Do you think it would have been more beneficial for the affected people to lose their house because they did not have the income to pay the mortgage or the rent and leave some of their super sitting there for another 30 or40 years instead of helping to keep a roof over their heads and put food on the table in their time of need? Sorry, but I think common sense prevailed to suit the circumstances at the time.
Ian King, Warners Bay
JOHN Arnold is right. According to trickle down economics if you give a horse enough chaff eventually the birds will get what passes through.
Don Owers, Dudley
CAR racing is not appropriate on the streets of this residential and recreational heritage area. The two-month disruption by roadworks, heavy vehicles, parking restrictions, and access to Foreshore Park, is an unreasonable imposition by a private company on residents, businesses, city workers, beach goers and visitors. The expectation of a financial return to the city of $35 million is a deceptive and gross exaggeration not supported by any figures from the previous three race events. For these reasons I am opposed to any extension of the race.
Mary Stewart, Newcastle East
LEGISLATION regarding the use of engineered stone due to dust inhalation appears likely, so how about restricting this material to be cut only by using water jets to cut, and water suppression to grind? Improve cutting equipment and safety standards, or many jobs will be lost within this industry. Companies need to bite the bullet and purchase cutting equipment to eliminate dust completely. No shortcuts.
Graeme Kime, Cameron Park
REGARDING Tuesday's piece on cost of living and the level of welfare payments ("Demand for help 'spirals' as living costs rise", Herald 28/2) we also still have refugees at Nauru and Manus Island. I will swap with them. Free rent and food? I'm there.
Jo Coombes, Cessnock
THE lovely letter from 'the butcher', ("Why Mardi Gras matters far past the parade", Letters, 1/3), brought a tear to my eye. What a great friend you are. Your long time friend is lucky to have your support through the years.
Fran Chapman, West Wallsend
THE POLL
SHOULD Adam O'Brien remain Knights coach for the season?
