Labor to scrap franking credit refund...This will be front page news today...., page-36

This is a tactical ploy by labor to get people out of smsf's and go into union controlled industry funds. The next stage will be to control the amount of money that people can withdraw in retirement so-as to to limit or stop the aged pension being claimed. It's a typical socialist play to make sure of your reliance on welfare continues and that's where the votes are for labor. Labor hates SMSF's with a vengeance because it is money they don't control via vested interests.

I think Bowen said only about 200 smsf's would be affected (not true) but it will certainly impact on lower balanced funds because the higher funds will be paying tax and get the imputation to cover it.

I have never been a fan of compulsory super as it is an indirect tax on poorer workers would would probably use the money NOW to live pay debts etc. rather than increase debt just to live and be slaves to it.

It will pay to have assets outside of super where you use your (and spouses) personal tax-free limit to earn income from other sources such as property, rental, capital gains etc.