So all Super funds including industry funds etc will be taxed on...

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Hawketrader

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25/07/25

15:35

Post #: 79953296
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Originally posted by compint: ↑

The incompetent idiots are intent on pushing this unrealized gains through by dealing with the greens, so it looks like it is going to happen. Only way out is to shift your investments out of super, especially the SMSF.
They think they are going after the rich by ripping their money through this paper assessment of their gains.
This whole SMSF thing was set up by one of their own - Paul Keating - who is now fuming at their stupidity. His idea was to get their money into this system, that is now 4.2 trillion, so as to fund startups, future funds and other investments in this country and it was working. So now they are going to trash it with a hideous tax ruling to grab tax monies for their cash spending which they have a history of wasting. As Keating will say they already have this money, and it is better placed.
I am spending my time shifting out of my SMSF on what I can. I feel the whole thing as an entrapment set up many years ago to suck us in then change the rules to grab all they can.
With all the money these funds have why have they not put up a challenge through the courts. Okay to impose it on those entering a new fund but not on those they entrapped beforehand i.e. the grandfather clause.
And still we are not 100% informed correctly that Albanese and mates are also subject to this.

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So all Super funds including industry funds etc will be taxed on unrealised gains as well? This will be devastating to every one's retirement fund trying to find the tax to pay for property and shares that have been in a fund for many years.
I know this government are dumb as with the greens but surely, they can't get away with this.
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