IF you do have beneficial ownership of the share then you most...

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JonnoH

16,319 Posts.

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20/03/18

10:18

Post #: 31878268
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Originally posted by picastoc ↑

I do indeed own the shares. They were moved from my own name into the superannuation environment provided by IOOF. I can submit a request for a particular share let us say I own 5000 NAB shares, and ask for those to be sold. I can even nominate the price at which I wish these to be sold at. I can use a financial adviser to do this on my behalf or I can use the cheaper option of completing a form from IOOF website and fax it them with my instructions.

I know exactly how many of each share I own. I am also given the exact amount of cash which is in each annuity and how many dollars of that can be used by me to BUY SHARES. I simply nominate the share, the number I wish to be purchased, and the price I am prepared to buy them for.

Now, Johnny boy, please explain to me how I don't "own" those shares? They are completely under my control. If I wish to use a Dividend Reinvestment plan rather than have the dividends paid out but to buy more shares, I can elect to have that done as well.
And several of my shares are like this. When I die the shares will comprise part of my deceased estate.

I believe you are remarkable ill-informed but not more so than many people on these forums. I will continue to consult with people who are economists to test my understanding of all this.

ps In case you don't know, I consider that a big error was made in the first place when these rebates were permitted. The budget cannot sustain it into the future.....

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IF you do have beneficial ownership of the share then you most likely have a wrap account which will be one of the 8% affected as stated by the independent PBO.
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