Australia's largest stock trading and investment forum Australia's #1 stock forum

Campaign against Labor's franking policy, page-80

First 80 Last

Share
Profile

Follow
moondoong

48,763 Posts.

30/10/18

23:43

Post #: 36323325
Share

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.

Expand

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.
7 Upvote

Reply

Top Stories

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

DXB

Dimerix links up with US NEPTUNE network to boost recruitment for FSGS study

Making money: How many microcaps should be in an investor's portfolio?

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too