The thread went off topic when I described Centrelink other unfair legislations and their non care over the issues. They are a law under themselves and there is no way of defeating the legislation. You can make complaints as I have but they will not make any effort to resolve as I have tried in the past.
The next thing to think about is not to fight Centrelink any more as they are a law onto themselves and it will cost you a fortune trying to fight them. Consider other options that can allow you to work on your savings for the future.
Other work; other methods of saving; thinking about whether Federal Government will still offer the first $1500.00 per year of matching payments and whether it will make a difference to present and future savings or whether the offer (if still available) is still worth the penalty imposed on Centrelink.
During a recession it will be more fruitful to place money into current saving instead of future to have available fund to cover a difficult period. Once you have extended you self through the difficult period and still have some money available then consider lump sum into a super account.
Consider the option of setting up an ING saving accounts or similar and whether that will work in your benefit.
One thing my accountant mentioned to me was that politicians will not put legislation in place when they have a vested interest. So if you have an accountant talk to them and find out options that you all can use to benefit in the same way politians do.
Need a good accountant though.
Me I started a company (not sole trader). Now my accountant tells me that there are so many benefits to a family trust that politician use all the time to attain maximum benefits.
