Andrew Seal

Herodotus Book VI is life cos I'm a δοῦλοι. 🎶of❄️and🔥. 🌹

[Andrew Seal @sealy_99]

@wbbab00n @kevinbonham Donations were fixed two weeks ago https://t.co/HLJjQ63z7q

[Parliament of Victoria @VicParliament]

Electoral Further Amendment Bill 2026 passed Parliament and will now go to the Governor for royal assent https://t.co/zyOd1HpzNA #springst

[Andrew Seal @sealy_99]

@JonathonMomsen @trashyhonky @mr_coverage Then it doesn't cost you anything to touch on.

[Andrew Seal @sealy_99]

@ForSureNotElon @swatson822 @josephgmitchell I never said it was an issue. But we live in a society that has agreed that the wealthy should shoulder more of the burden of providing for the rest of the community who are less wealthy. This isn't an equal system as the rich do and should pay more tax but an equitable one.

[Andrew Seal @sealy_99]

@ForSureNotElon @swatson822 @josephgmitchell You’re engaging in sophistry. Guess what? The parliament can decide what super earnings.

Someone is still wealthy if they own a large amount of unrealised assets. And increases in the value of those assets makes them even wealthier.

[Andrew Seal @sealy_99]

@ForSureNotElon @swatson822 @josephgmitchell You can’t be serious, earnings form wealth. It increases wealth because a person has more money than they did before the earnings. And super is not purely a wealth building vehicle and was never designed to be that.

[Andrew Seal @sealy_99]

@ForSureNotElon @swatson822 @josephgmitchell When you’re trying to argue that people having more money isn’t earnings, you’re not going to convince many people. It’s still wealth, and the people affected have more than enough of it to afford having a little bit less of a tax concession for their super earnings above $3m.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut Yes, but you don't pay tax on realised gains in super.

Rates are still calculated using unrealised gains.

I never said the aged pension was a tax, but that the threshold uses unrealised gains.

And hahaha you're delusional on that last one. I dare you to say that to the SRO.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut Land tax is unrealised gains, so too is council rates, and the aged pension takes into account unrealised gains.

And gains for assets outside of super are liable for CGT, unlike super.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut All workers born because you missed a word.

I'm not conflating them, I'm showing that tax brackets rise over time historically even if they're not indexed. So just as income tax brackets will rise in 67 years, so too will this threshold.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut They still pay less tax than if their wealth was not in a super fund. That's a tax concession.

People with over $3m in their superfund can manage a tiny bit more of a tax liability.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut I was referring to you last reply which did not mention born today. But even in your new scenario, that's 67 years without it being raised, which won't happen, and in the unlikely possibility it does, it's because we have chosen governments that don't change it in 22+ elections.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut You have poor reading comprehension. It is a reduction of tax concessions. Earnings in super over $3m currently are taxed at 15% (a 67% concession) and will now be taxed at 30% (33% concession).

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut That's just not true. In 30 years only 10% of people are estimated to have a balance over $3m, and that's presuming no government changes it by then (10 elections time). Look at the income tax brackets 30 years ago and tell me that it won't change with a straight face.

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut Super earnings are already taxed at 15% (which is a tax concession and will still be concessionary when taxed at 30% for every dollar over $3m).

[Andrew Seal @sealy_99]

@freeaussie1444 @lvan61 @ben_nexhip @GrogsGamut Politicians are not exempt. The ones that are on defined benefits are still liable when they access their pension as you can't work out its value until they retire. And it's not taxing people more, it's reducing the tax concession they get over a very high threshold.

[Andrew Seal @sealy_99]

@Johnprendergas @fazdogfotog @GrogsGamut The article is about the 4,000 who have categories of assets like farms in their super, which the original tweet is referring to and what this thread has been about. Maybe you should read the article before you swoop into the replies and accuse people of hallucinating.

[Andrew Seal @sealy_99]

@fazdogfotog @ajprotheroe1 @Johnprendergas @GrogsGamut Now you’ve extended to 46 years which takes up the amount by $600k. I never said no one will get there, just that 90% won’t in 30 years. Even accounting for the 3.7% I will still only be at 2.4m by then. And it’s stupendously unlikely that the threshold won’t be raised by then.

[Andrew Seal @sealy_99]

@fazdogfotog @ajprotheroe1 @Johnprendergas @GrogsGamut Inflation has averaged at 2.5% over the past 25 years according to the RBA, not 4%. It would have to be 42 years of terrible monetary policy to average 4% per annum. My calculation was slightly off, but not by much because at 2.5%, $820k will be $2.3m in 2067.

[Andrew Seal @sealy_99]

@Johnprendergas @fazdogfotog @ajprotheroe1 @GrogsGamut The 10% figure isn't bullshit, it's analysis from Grattan: https://t.co/gQ0vM2DRfm

Super should still have tax concessions, but they don't need to be so high that the wealthy are encouraged to put excessive amounts of their wealth into it (a loophole they are rorting).

[Andrew Seal @sealy_99]

@Johnprendergas @fazdogfotog @GrogsGamut It's not spin, it's the truth about how many people with farms in their super the changes will affect, with is a small fraction of the small fraction of the total number of people with balances over $3m.