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Reports this afternoon that the latest dual citizenship saga is not going to end well for 5 members, expecting bi-elections in 4 labor seats and 1 Nick Xenophon seat in May

Has there ever been another parliament with more bi-elections than this one?

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lol

But Bill told us all of his homies were sweet, because vetting, or something... 

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It's become a legal nightmare for both sides.

You put an application in, and then they charge you the appropriate fees for registration, then 4 weeks later you're asked for more documentation. So now it all hinges on if the registration occurred when they charged you for it, or 4 weeks later when they asked for more information.

What a clusterfck!

Edited by Ex-Hasbeen

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“I’m very proud to be a senator in this Parliament,” she said this week. “It’s taken me 18 years to get re-elected again. Like Nelson Mandela did, after 28 years in prison, he forgave and he forgot.” - Pauline Hanson

Comparing herself to Nelson Mandela... I don't even know where to start with that one.

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A racist comparing herself to an African man...... ummm, yeah, don't know.

Seriously, she is exactly what happens when the major parties are leaving us disillusioned!

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Next federal election just got a bit more interesting.  Anthony Green's analysis on the new distribution of the seats shows that Labor would be 2 seats more than current number and Coalition one seat lower.   Most commentators are still expecting next election to be held around August this year to avoid clashes with various other state elections

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21 hours ago, Cottoneyes said:

Next federal election just got a bit more interesting.  Anthony Green's analysis on the new distribution of the seats shows that Labor would be 2 seats more than current number and Coalition one seat lower.   Most commentators are still expecting next election to be held around August this year to avoid clashes with various other state elections

the libs cant go to the polls, they will get decimated.   Mind you if I was turnbull, Id be outing abbott as a grub and doing just that.   I would be running with you are impersonating arguably our greatest general ever in setting up your monash society and then endless replays of that channel 7 footage of his denigration of our fallen diggers where he bobs for apples 20 times and says shit happens.  I'd be going to town like no tomorrow, but then I ain't malcolm, afraid to make a decision, turnbull.

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Who's actually sick to death of elections?  I'm over them.  Can't we go fixed term or something, for all of them?  

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Ok, so the govt really didn't want this banking royal Commission thing.  How do we think it's going so far?

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39 minutes ago, goughy said:

Ok, so the govt really didn't want this banking royal Commission thing.  How do we think it's going so far?

Probably exactly how the Government thought it would go, hence they didn't want it.

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On 14/04/2018 at 2:42 PM, goughy said:

Who's actually sick to death of elections?  I'm over them.  Can't we go fixed term or something, for all of them?  

Yeah, Id vote for that   :lol: :lol: :lol:  

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And the first casualty - AMP ceo has resigned after revelations at the banking royal commission, and apologised to their customers!

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When you hear some of the shit that's come out of it so far..........  and our govt didn't want this to happen!

Cassidy was saying this morning that the one thing the govt will be hoping is that some shit will be dug up about the unions when they get into the super stuff, but he reckons they should be more worried about it being revealed that the industry super funds may be out performing the big company ones.

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14 minutes ago, goughy said:

When you hear some of the shit that's come out of it so far..........  and our govt didn't want this to happen!

Cassidy was saying this morning that the one thing the govt will be hoping is that some shit will be dug up about the unions when they get into the super stuff, but he reckons they should be more worried about it being revealed that the industry super funds may be out performing the big company ones.

The industry super funds have a bit to be worried about, take that to the bank 😋

Retail funds are no saints, but I wouldn't touch any of the industry super funds with a 10 foot pole either.  Too many stories of shoddy accounting practices to inflate returns for advertising, money being diverted into places to put pressure on industrial relation disputes in publicly listed companies with no regard to returns etc

Face it, when money is involved everyone is trying to screw you over.  The 2 biggest misnomers in the entire industry which I avoid are those that use "independent" or "ethical" in their language - you can guarantee they are anything but

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Fair enough.  I don't have any super (of note) so I wouldn't have a clue.

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I love it here during EBA negotiations:

Union: you must use our default industry super fund

Boss: Why?  I have negotiated a retail fund with fees at half of your industry fund fees, provide the employees paid for insurances with far less premiums attached that we know work due to actually using the insurances and have returns as good as or better than your industry funds over the last 15 years.  In fact, of new employees we have a 70% take up rate and many people change from their super fund to our default fund within 6 months after starting.  So again why?

Union: ... (tumbleweeds), um let's get back to talking about x% wage increases then....

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41 minutes ago, Cottoneyes said:

The industry super funds have a bit to be worried about, take that to the bank 😋

Retail funds are no saints, but I wouldn't touch any of the industry super funds with a 10 foot pole either.  Too many stories of shoddy accounting practices to inflate returns for advertising, money being diverted into places to put pressure on industrial relation disputes in publicly listed companies with no regard to returns etc

Face it, when money is involved everyone is trying to screw you over.  The 2 biggest misnomers in the entire industry which I avoid are those that use "independent" or "ethical" in their language - you can guarantee they are anything but

 

29 minutes ago, Cottoneyes said:

I love it here during EBA negotiations:

Union: you must use our default industry super fund

Boss: Why?  I have negotiated a retail fund with fees at half of your industry fund fees, provide the employees paid for insurances with far less premiums attached that we know work due to actually using the insurances and have returns as good as or better than your industry funds over the last 15 years.  In fact, of new employees we have a 70% take up rate and many people change from their super fund to our default fund within 6 months after starting.  So again why?

Union: ... (tumbleweeds), um let's get back to talking about x% wage increases then....

Have retail funds really improved that much?  They were absolute thieves in the 90's/early 2000s.  Which retail & which industry fund do you refer to?

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9 minutes ago, ComfortablyNumb said:

 

Have retail funds really improved that much?  They were absolute thieves in the 90's/early 2000s.  Which retail & which industry fund do you refer to?

As I said, they are all bad in different ways.  I'm not saying retail funds are the answer at all, but don't go thinking industry funds are squeaky clean either.

For the fund we use the boss looks after the employees and seriously screwed the fund attached to a bank right down in fees.  With the amount of money the company puts through the bank on an annual basis, the bank was willing to do alot to get the business.  The fees are currently around half of what the industry fund charge.  If anyone leaves the company and goes into the general retail arm of the super fund, their fees will go up at least 4 times as much.

More larger companies need to do this as well, once a company is successful the banks are all bending over to get business.  We had NAB in here last year offering all of our employees discounted fees and interest rates on non-super banking, all part of them trying to steal the companies business from the existing banks.  The company presently doesn't put a cent through NAB yet they were smart enough to figure out the owner looks after the employees and is trying that angle.

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5 hours ago, Cottoneyes said:

As I said, they are all bad in different ways.  I'm not saying retail funds are the answer at all, but don't go thinking industry funds are squeaky clean either.

For the fund we use the boss looks after the employees and seriously screwed the fund attached to a bank right down in fees.  With the amount of money the company puts through the bank on an annual basis, the bank was willing to do alot to get the business.  The fees are currently around half of what the industry fund charge.  If anyone leaves the company and goes into the general retail arm of the super fund, their fees will go up at least 4 times as much.

More larger companies need to do this as well, once a company is successful the banks are all bending over to get business.  We had NAB in here last year offering all of our employees discounted fees and interest rates on non-super banking, all part of them trying to steal the companies business from the existing banks.  The company presently doesn't put a cent through NAB yet they were smart enough to figure out the owner looks after the employees and is trying that angle.

That doesn't help Joe Average trying to decipher the returns, fees etc if not working in a major corporation able to provide this leverage, their own health fund etc. Industry funds look superior on every different comparison I've seen. Am I missing something?

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18 minutes ago, Parkside said:

That doesn't help Joe Average trying to decipher the returns, fees etc if not working in a major corporation able to provide this leverage, their own health fund etc. Industry funds look superior on every different comparison I've seen. Am I missing something?

My thoughts exactly Parky. I'm with UniSuper & they are great. top performance, bugger all fees, insurance (life & income) about 1/10th the cost of a retail insurer.

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Financial services Minister Kelly O'Dwyer on with Barry Cassidy this morning; a perfect example of how you don't answer a (or multiple) questions.  The govt really is looking like fools regarding the banking RC and there's nothing they can say that anyone is gonna buy..... They fucked up and at some stage someone is gonna have to admit it.

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I worked in the consumer financial advocacy industry and trust me, the RC hasn't done more than touch the edges of the endemic corruption in the financial sector. The relationships between the banks, govt, asic, the all-for-show ombudsmen, debt-restructuring services (financed by the banks), debt-collectors, at times rival the grassy-knoll levels of conspiracy. Some of the stuff is so outrageous that unless you have actual experience with it you would simply not believe it possible to be true. I came out of that industry very jaded, and don't have much hope for this resulting in anything that will be more than an inconvenience before everyone going back to business as usual.

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Has anyone ever dealt with a financial advisor who wasn't full of shit?  Serious question.  We foolishly got ourselves involved with another local mob 10mths ago who are investing in shares etc for us.  They wanted to charge an annual fee of $3K (their minimum fee) and I told them to jam it.  Negotiated $1500 up front, then the other $1500 if they got us a return of 6.5%+ each quarter.  So far the return is about -3%....so at least we're not another $1500 down.  Wish I'd just put it all into Unisuper, would be miles ahead.  If we ever get back into the black, I'm gonna pull it all and go to the Casino....better odds. 

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