The Rich get Poorer under Albanese’s new super laws

By Warren Strybosch

It had to happen. With record spending under Labor, and Australia’s debt continuing to skyrocket, Labor has been under pressure to find ways to either curb spending or find new ways to increase revenue. Given Labor is not known for having a good fiscal policy and would rather give away money to the masses, they have sought to raise revenue instead.

They did not have to look to far. With total superannuation assets worth $3.3 trillion at the end of the September 2022 quarter (https://www.superannuation. asn.au/), there is a massive amount of money at the governments fingertips ready for the taking. Obviously, they cannot simply take the funds, but they can sure as hell tax it. This is exactly what they have decided to do.

The Prime Minister, on the 27th of July, announced that from 1st July 2025, anyone with superannuation balances over $3 million, will be taxed at 30 cents in the dollar. That is a whopping 100% increase in taxes for those with large super balances.

The change will take place after the next federal election. Labor is hoping that by taxing the rich it will be resonant with the less fortunate. After all, who really cares about the big end of town? Ironically, more and more people in the future are going to find themselves with likely super balances above 3 million dollars. In the next 10 to 15 years, we are going to see the largest movement in intergenerational wealth that the world has ever seen and a lot of that transfer of wealth will be likely placed into superannuation…well, it was going to be.

For those who have worked hard and made their fortunes, they will be forking the bill for those who have not once again. Again, who cares, right?

Mr Albanese said the reform would “strengthen the system by making it more sustainable”.

“The savings that are made from this tax breaks will contribute $900 million to the bottom line of the forward estimates and some $2 billion when it is operating over the full year period,” he said.

We are not sure how these changes will ‘strengthen the system by making it more sustainable’?

Isn’t the amount of superannuation assets growing year by year? I think he means that this will make it more sustainable for them to keep spending money like it grows on trees by taking it from others.

Will this win votes with the average Aussie punter? Likely it will as we are known for our tall poppy syndrome in Australia. We are all on about given the battler a go but don’t get too high or we will try and pull you down.

In short, super is getting taxed again and this is likely to lead to more scepticism about using super in the future.

Naturopath

By Kathryn Messenger

Traditionally in many cultures menopause was celebrated as freedom from childbearing and a sign of wisdom. Sadly in our culture many women struggle with the loss of youth, it can be good to be reminded to enjoy this stage of life and look for some positives.

The average age for menopause is 51, and by definition is 12 months with no period. Perimenopause is the transition stage and usually occurs from age 45 to 55. Changes occur due to changes to main female hormones: oestrogen and progesterone. Oestrogen is the ‘strong’ hormone, it has a role in strengthening bones with calcium, and during perimenopause the levels fluctuate. Progesterone is the ‘calming’ hormone, it relaxes the nervous system, and in perimenopause the levels drop. During the reproductive years, these hormones generally create balance and after menopause, even though much less of each of these hormones are produced, they are also in balance. It’s unbalanced ratio in perimenopause that causes the symptoms of increased anxiety, unstable mood, changes to the menstrual cycle, and hot flushes.

Pms

Premenstrual syndrome (PMS) is often due to a drop in oestrogen and often women who had PMS previously can find symptoms to be worse or last longer in perimenopause. But there’s something easy that can make a big difference: phytoestrogens. This is a group of foods that are chemically similar to the hormone oestrogen and when consumed help to modulate oestrogen levels. Phytoestrogens are found in soy products, linseed, as well as other seeds and legumes, eating these foods can help to offset the fluctuating oestrogen levels.

Stress

Often the first sign of perimenopause is higher stress levels due to the loss of progesterone. Rather than try to fight the hormonal changes, find activities that you can do each week that you find relaxing or fun. Magnesium is a great nutrient for calming the nervous system: magnesium citrate or magnesium glycinate are the best forms.

Short cycle

The early stages of perimenopause can