Hellfire
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| posted on 3/9/05 at 05:03 PM |
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Talking of Taxes or rather 'stealth taxes' - here's one for you. Our Government is advising the older generation to 'go back
to work' - siting agism as a plague among employers, when in actual fact it's a ploy to boost 'yet again' their coffers. So
here goes:
When you retire and you have paid all your NI contributions ie you are a fully paid up member and need not pay any more NI to subscribe for your State
Pension. So... my step Dad ask's the question "So when I get my new job I don't have to pay any NI then" - "oh yes you
do, it's the law!". "Why?"
Yes, another rule to get everyone to work to carry on paying taxes when they don't need to. Scandalous... now that really is legalised robbery!
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Dale
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| posted on 3/9/05 at 05:22 PM |
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On taxes I cant remember the tax freedom day but I am pretty sure its mid July. So that equals every penny we make in Ontario for the first 7 and a
half months goes to the goverment. The next half to 1 month or so goes straight to insurance- many peoples insurance here is higher than a new car
payment.
Dale
Thanks
Dale
my 14 and11 year old boys 22
and 19 now want to drive but have to be 25 before insurance will allow. Finally on the road
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steve_gus
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| posted on 3/9/05 at 07:56 PM |
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David, you are bit wrong on the pension fund taxing......
The money you pay in isnt taxed at all - its before tax.
The gains made during the policy life time (interest) isnt taxed.
The 25% you can take at retirement isnt taxed.
However, when you take it as a pension, its taxed as if it was paid income.
a bit like an isa in reverse. with isa you pay in your after tax income, but the money gained in interest isnt taxed.
pension funds are a very good way of avoiding tax.
atb
steve
[Edited on 3/9/05 by steve_gus]
http://www.locostbuilder.co.uk
Just knock off the 's'!
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jonbeedle
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| posted on 4/9/05 at 12:33 PM |
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Which ever way you look at it all...we're being shafted
Cheers
Jon
"Everyone is entitled to an opinion however stupid!"
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The Shootist
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 posted on 6/9/05 at 07:24 PM |
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I wasn't TRYING to start a tax argument...
just pointing out the the taxes can make US gas seem much cheeper, even though we may pay more for something else. 
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G.Man
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| posted on 6/9/05 at 09:40 PM |
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quote:
Originally posted by steve_gus
David, you are bit wrong on the pension fund taxing......
pension funds are a very good way of avoiding tax.
[Edited on 3/9/05 by steve_gus]
All gains made in pension funds from dividends have been taxable for a few years now...
Pensions are a BAD way of investing money, and next year will get worse when people can put their houses in there as well...
Its just a ploy so the government can longer term means test pensions and CGT private homes....
Dont invest in a pension, use buy to let property...
You will pay more tax but make more money....
Sorry should say, been a financial advisor for over 20 years....
Opinions are like backsides..
Everyone has one, nobody wants to hear it and only other peoples stink!
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Peteff
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| posted on 6/9/05 at 11:24 PM |
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The 25% you can take at retirement isnt taxed.
Till you put it in the bank.
yours, Pete
I went into the RSPCA office the other day. It was so small you could hardly swing a cat in there.
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