‘A coalition proposal will allow Australians to draw up to $50k of their super to buy their first home’ 🙄 Super for younger/low-income earners already under pressure when coalition allowed access to super during Covid $50k deposit would decimate their super on retirement & drive up housing costs - ThreadSky

shiannonc.bsky.social • 45 days ago

‘A coalition proposal will allow Australians to draw up to $50k of their super to buy their first home’

🙄

Super for younger/low-income earners already under pressure when coalition allowed access to super during Covid

$50k deposit would decimate their super on retirement

& drive up housing costs

Comments

mikemanning01.bsky.social•45 days ago

https://bsky.app/profile/tmfscottp.bsky.social/post/3lfk27fumwk2v

welshaustralian.bsky.social•45 days ago

The last thing we want is more pressure on housing sales. Especially at the cost of a comfortable retirement.

shiannonc.bsky.social•45 days ago

Exactly

stormin68.bsky.social•45 days ago

LNP have no idea about economics.
They only want to trash superannuation and send house prices up.
During the LNP decade of disaster we saw, first hand, conservative incompetence.
🔵💰🤮📉👎

glendagoodwitch.bsky.social•45 days ago

Such a dumb policy 😡

shaneconvey.bsky.social•45 days ago

The lib Nats ideology- workers need to work to death so superannuation spoils this plan and needs to go

welshaustralian.bsky.social•45 days ago

That's what happened to Dutton's parents so he says.

shiannonc.bsky.social•45 days ago

Doubtful. Dutton’s father owned a construction company and they bought and sold properties. A lot of his past history is difficult to find, which would indicate a professional wipe, but his father wasn’t poor.

welshaustralian.bsky.social•45 days ago

A secretary was it? and a brickie? Either way they weren't anywhere near to being poor! Although these days he can't afford to get proper prescription lenses so who knows.

shiannonc.bsky.social•45 days ago

Who knows indeed. I doubt they are poor.

peterglen.bsky.social•45 days ago

OK, from the age of 68 I can see all of the madness in this proposal, but if I was 30 and desperate to get a foot in the door i would probably fall for it.

shiannonc.bsky.social•45 days ago

Likely, because people en masse are being conditioned not to think for themselves and will believe the fear mongering.

peterglen.bsky.social•45 days ago

I don't mean I would vote for the Spud but at 30 I would probably use the option of Super for housng deposit, even knowing everyone else was doing the same and pushing up prices. Things are that desperate.

petsam.bsky.social•45 days ago

Tell me how much super you had at 30? I didn’t have 50 grand, and I was on the ‘old super scheme’ my daughter is 39, she doesn’t have that amount yet, it would wipe her out. Total bullshit he’s talking to the rich.

peterglen.bsky.social•45 days ago

I got my first $200 super when I was 38. I am being hypothetical. I now have about 25K. My wife has maybe 125K.
It is entirely reasonable that a 30 yo today would have 59K

shiannonc.bsky.social•45 days ago

Yep.

shiannonc.bsky.social•45 days ago

Ppl who had anything in their super were able to take up to $20k out during Covid. These wld hve been ppl who could least afford it. It is doubtful that ppl in this age bracket would have much super at all.

Like I said, It will also make housing even more unaffordable & further out of reach.

peterglen.bsky.social•45 days ago

Yeah, had a workmate, mid to late 30s but an apprentice carpenter, pulled out 10k to buy a car!!

shiannonc.bsky.social•45 days ago

I know a few people who did the same who now have next to nothing in their super.

missymoo2.bsky.social•45 days ago

But no policy to increasing housing stock.

The young of today will not get ahead at any stage of their life with this policy.

katethom.bsky.social•45 days ago

And then, when it burns to the ground and you don’t have any insurance- as they no longer insure against fire, or flood, or climate catastrophe- then you have neither! No house, no super.. Nothing to see here folks, carry on 🙄

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