Officially retired

   / Officially retired #121  
When it comes to taxes our government are experts at gouging, most products have a 10% GST (Goods and services tax) but it only gets better from there.
If you want cigarettes, fuel, alcohol and a few other bits and pieces they not only impose this GST but the will be other little gems too such as a tariff, levee all over and above the sales tax, then we want to buy a home, I'll throw in a figure of $1m, depending upon what state you live in this will cost from $10k to $56k, for tax, stamp duty (nearly forgot that little gem) so it essentially means you get taxed on a tax then get another tax on the total of the previous two.
Car registration attracts tax on the registration fee and the compulsory 3rd party insurance then a stamp duty, it is a combined fee and the insurance is for injury only and a component of registration, it varies a little between states but not avoidable or negotiable.
It is so silly that to buy a carton of local beer the cost is about $60, I don't like local and buy imported which is about $45 because they get some concessions for importing (????).
I get taxed on my income at about 30% but the first $18000 is tax free, I salary package (or did) because I work in health and get an additional $16500 tax free then cop the rest later.
We pay a tariff on a newe car to protect the local industry which doesn't exist, there are no cars made here any longer but we still pay for it, my wifes Hyundai i30 cost just over $24k, a 4WD such as a Toyota Landcruiser is about $100k and attracts a luxury car tax because it is over $70k, I don't think a Landcruiser is a luxury car.
There is talk of taxing my rainwater tanks such is the efficiency of local government, I can't sink a bore without a permit, to take water from the river requires a licence, how long before we get a tax to breath depending upon our lung capacity.

time for the tax payers to take over that goverment $45.00 for a case of beer, along with all those other taxes is just stupid !
 
   / Officially retired #122  
Best of luck. Normally, working longer than needed to retire doesn't really increase the retirement pay that much unless your wages have increased by a substantial amount for the last 3 years or so. I could have worked another 5, 10,or 15 years beyond my 30 but it wouldn't increase my retirement pay by that much. It was time for me to go after 30 and I haven't regretted it a bit (missed it for the first 10 years though).

By retirement pay, do you mean pension?
 
   / Officially retired #123  
By retirement pay, do you mean pension?

Sorry, yes, was referring to pension. Additional years only added a couple hundred dollars a year to the total...so, the continued stress of the job just wasn't worth the paltry reward.
 
   / Officially retired #124  
I'm sorry to hear that. Not having any personal experiences in Aussie I don't quite understand why the taxes are so demanding. You have never mentioned any extreme social programs that would eat up the tax revenue. Why does the government need such extreme taxation? I'm not condemning, I'm educating myself. Thanks for any details you may offer.

Where did you go to on RNR Richard? I had 2, went to Thailand on the 1st and Sidney on the 2nd.
 
   / Officially retired #125  
Sorry, yes, was referring to pension. Additional years only added a couple hundred dollars a year to the total...so, the continued stress of the job just wasn't worth the paltry reward.

Okay. I worked in the private sector and pensions disappeared a LONG time ago. Salarys were not adjusted to compensate either. So working longer DOES make a difference to me. In making the decision on when to retire, whether or not you have a Pension (particularly if it has a COLA) is an important point.
 
   / Officially retired #126  
Okay. I worked in the private sector and pensions disappeared a LONG time ago. Salarys were not adjusted to compensate either. So working longer DOES make a difference to me. In making the decision on when to retire, whether or not you have a Pension (particularly if it has a COLA) is an important point.

Does a person ever retire? ;)
 
   / Officially retired #127  
I worked several years after my company defined benefit pension was fully funded (the company no longer contributed to my pension) but the longer I worked the benefits continued to increase, just slower. They continued to fund the 401k matching amount and I could use the catch up provision to put more into the 401k.
 
   / Officially retired #128  
Okay. I worked in the private sector and pensions disappeared a LONG time ago. Salarys were not adjusted to compensate either. So working longer DOES make a difference to me. In making the decision on when to retire, whether or not you have a Pension (particularly if it has a COLA) is an important point.

I was fortunate and was able to buy my military time (4 years). The years didn't count towards my 30 years but counted afterwards and amounts to about $300 per month added to pension.

I would lose COLA if I leave the State but I would still be money ahead by leaving because of the ridiculously high cost of living here.
 
   / Officially retired #129  
I was fortunate and was able to buy my military time (4 years). The years didn't count towards my 30 years but counted afterwards and amounts to about $300 per month added to pension.

I would lose COLA if I leave the State but I would still be money ahead by leaving because of the ridiculously high cost of living here.
Well,,,, Come on down ! We would love to have you !

Not that it is cheap in WA :shocked:
 

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