News: BHP BHP, Rio call for permanent indigenous voice in Australia's parliament, page-29

I work in the funds management industry, know it back to front. A SMSF cannot be beaten on price. Add in all those fees in the PDS from those superfunds listed, you’ll find most are around 1.00%pa all up, utter rip off, costs $10k per million FUM. Our SMSF with several members of the family pooled is all up $1,100pa, regardless of size. So my costs on a 3m fund are around 0.03% pa. So your generic fund is roughly 33 times more expensive on $3m pooled group in a SMSF. Our isn’t $3m, just giving an example.

EASY way around Union Bills tax grab. Pension mode family members franking credits used to offset tax payable on accumulation members contributions tax. Wahlah, no tax payable with up to 6 family memebers allowed in a SMSF. Any excess? Well I’ll just sell my Australian holdings in this structure just to spite union bill.  

Our remaining holdings are in a company and personal names. Company, 30% tax, no change - tick not a extra tax on the rich. Personal name? Well each of us already the top tax bracket and pay one of the highest rates of tax in the world, so no franking credit refunds anyway. So tick. 

so let me repeat, this tax effects the middle and lower class who dared to retire by themselves without taking a pension. They don’t have other options and will no longer get a refund, rather double taxed by a socialist. Horrible policy.