Friday, December 30, 2005

!@#$%^#.. Superanuation @)#$*%#!$...

Today's rant is brought to you by Superanuation.

What is superanuation, it is basically a blood sucking organization forced on to us by the Government to make sure that we have enough money to survive our old age. Other wise known as EPF in Malaysia, CPF in Singapore or Social Security in the US. Why do i need to pay 10% of my salary every month to this fucking superannuation company that takes fees left right and center? Here's an example, i'm paying in in 300 dollars a month into my super. Out of the 300, 15% goes to the Contribution Tax... and 2.25 dolalrs for administration fees. so that translate to 32.25 dollars PER MONTH subtracted from my contribution. or 387 dollars per year taken out for nothing. Fucking government.

I have no idea.. either i get taxed 33% on my income or getting taxed 15% + 1% administrative tax + other investment fees. *sigh*. In addition I'm putting in an additional 100 dollars every month to get my Super Co-Contribution. Basically what happens here is that for every dollar that I put into my super, the government will match it dollar per dollar into my super. Not bad in my opinion. I guess its the lesser of two evils. 33% tax or 15% tax. I never realize that the saying holds true.. "There are nothing more certian then Death and Taxes".

So dear government... please take your hands off my fucking retirement fund. you have taken 33% out of my income already!


At 11:11 am, Blogger Cynthia said...

hahah...welcome to Australia!


i kena taxed like hell b4.. is like half of my blood n sweat money are gone to the shithole..sigh

At 12:05 am, Blogger nUtZ` said...

hai.. yeah no wonder the government wants more pr.. they don't have to pay for our education yet we are paying so much tax.. :(


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