IMU (ASX) Topping up

Originally posted by oxxa23: ↑

hi @Taureanbull

you're interpreting this correctly... it is simply the most idiotic proposed tax change i've seen or heard of in 23 years of my public accounting career..

it's insane.... imagine a single member smsf fund that bought a commercial property for their business to operate from 10 years ago... say for $2m... Then it gets revalued at $10m... and the fund has little other assets, other than the rent it derives... let's say a 5% rental yield... They will have to sell the property to cover the tax on the unrealised gains... hell, they'd even have to sell if it was a 2 member smsf...

supposedly this is minor and will affect less than 1% of super members... Except i can tell you right now the other 99% will sh!t themselves and put nowhere near the amount of money into super going forward... who will trust the govt and super anymore?? so much for planning for funding people's retirement...

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Originally posted by Taureanbull: ↑

Butts, It’s not about taxation. That’s just a cover story.,As you can see it’s about destroying SMSFs. The Unions hate SMSFs because 1.2m people use them and they control about $1Tn dollars worth of assets. The Govt would be castrated if the declared that SMSFs wound be abolished. Instead they invented this method.

I’m very disappointed that the financial media has overlooked what’s happened here.

But it’s best to open the debate about this while we have a 2 year window to restructure our investments.

Investing is the pricing of risk. That’s all it is. As early investors in IMU understand they took on a very big risk at sub .03 cents. But now at .135 the risk is greatly reduced by progress in technology, management and financial strength. My view is IMU at this point has the best risk reward profile it has ever had !

The Govt wants to force people to use Union Controlled Industry Funds to save for retirement. Then they have announced that they intend to direct investment into ESG. ie Social investments that Politicians dram up. Social Housing Renewables and other utopian objectives.

Add to that risk, the Industry Funds have people like Wayne Swann in charge of them . Remember the MRRT tax that never raised a cent.

That’s a lot of risk to take with your retirement monies. It doesn’t matter what your views are politically. The risk of having Politicians/ex politicians directing your investments and regulatory provisions dictating when you dispose of assets is very scary.

Investors here in IMU have taken on a big risk hoping for a big reward.,As those risks diminish,which they are, do they need to introduce 2 new major risks.

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Agree with both of you.

If this socialist nonsense was in place already, those with SMSF holdings in IMU would have potentially paid tax on a value that has since reduced significantly, and likely sold some shares to pay for it. Profit is only tangible when the asset is disposed of. Taxing on value at a snapshot in time rather than profit is ridiculous.

Moronic policy. Imbecilic.

Go Imugene

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(20min delay)
Last 5.1¢		Change 0.001(2.00%)		Mkt cap ! $374.8M

Open	High	Low	Value	Volume
5.0¢	5.2¢	4.9¢	$541.6K	10.76M

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