if Albanese merely said, "all those who are excessively weighted in SMSF need to withdraw their investments in line with our new cap of $3Mn balance." would anyone take any notice?
its clear from the reaction of many here that they wouldn't oblige as they have a strong interest in keeping the tax avoidance going as long and for as much as possible.
I dare say that it could have been done better, but I don't know how. Albanese chose a means of doing this. the point is to reduce the balance so that govt isn't paying excessive cost for the benefit of those who use SMSF for inappropriate purposes.
how would you gain compliance with a $3Mn cap on SMSF?
