Dave we have shared many posts on this issue and it appears you have a short memory.
The Superannuation system was set up by Labor for Labor and for some of our biggest companies ,they are the biggest beneficiaries .
Some Industry super funds have performed very well mainly because they have more members joining than drawing pensions so the fund is easily able to beat the index, industry funds where more members are shifting into pension phase are not performing as well and Industry funds and fees are starting to increase.
No wonder Industry funds want the super contributions to keep increasing because more money coming in will help their cosy industry just kicking the can down the road for a bit longer,there is a legislated percentage Australian's have to pay but no one knows what they will get when they retire after a lifetime of paying super.
Labor's franking credit policy they took to the last election was self serving and most people could understand that,if all SMSFs cashed up and put their funds into Industry funds, under Labor's policy the franking credits would be payed to the industry funds so there would be not gain in tax for the government,the Labor party and the unions would be the biggest winners and that would be self serving for Labor.
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Dave we have shared many posts on this issue and it appears you...
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