Top Growth Stock For The Month, page-7

Take two people on self managed SMSF getting $30K per year are paying 30% tax on $15K income each. A normal worker doesn't pay any tax until he reaches $18K. As a couple we nominally receive $15K back (working in round figures here) - so subtracting the $3000 accounting/auditing cost for an SMSF each year and $2000 in other related expenses leaving us individually earning just $20K each for the year - and paying tax at 30%. Now, according to Shorty's logic, since we are each paying tax then we are due for a refund! Trust a politician to add complexity where none existed. I reckon he is concerned that there won't be enough to pay his $30-million lifetime taxpayer-funded salary+allowances+super+goldplated perqs that he has to suck the taxpayer now to ensure he gets his pile!