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Campaign against Labor's franking policy, page-80

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moondoong

48,767 Posts.

30/10/18

23:43

Post #: 36323325
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Originally posted by rocket973 ↑

Isn't it good when a SMSF member can fully fund his/her retirement and without the need to suck on the public tit?
So many baby boomers haven't saved for their retirement and therefore need to rely on the public purse. These retirees are the ones that the younger generation should be concerned about, the ones who haven't provided for themselves. We see the usual HC lefties are now envious as their life on the pension is not all that its cracked up to be.
To say that a SMSF self funded retiree is not paying their share of taxes is totally incorrect. There are many taxes that are paid including GST, fuel tax and luxury car tax. On my last car purchase I paid enough luxury car tax to keep 1 x pensioner for 1 year. Next year when I trade one of my cars I'll be paying for 2 x pensioners upkeep in luxury car tax. This will keep a few lefties sucking on the public tit for few more years.
With the $1.6 million pension cap the Government will get extra tax, which the franking credits will be used to lower. Shorten will not get any extra money from SMSF who have balances above the cap.
The person who gets $25,000 in franking credit refunds would most likely be above the $1.6 million cap. Anybody who gets $25,000 in franking credits means they have a large SMSF balance and should have a diversified portfolio. ie property, cash and shares, if they only have their SMSF money locked into just one or two shares then they are fools of the first order.

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Let's cut to the chase it's an attack on smsf.

They want everyone in industry super funds with union fat cats on the boards.

Eventually they will confiscate everyone's super balance and commute to a pension.

That's the end game.
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