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

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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"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."

Simply by your fund manager buying the share on your behalf. Just as I have some shares in Australian Super that they have purchased on my behalf. Shares that I can buy and sell at any time. I can also nominate my buy/sell price and quantity. I also get franked dividends and can participate in DRP.

And here is an excerpt from the T&C for Australian Super:-
"2.13 All investments in the AustralianSuper Member Direct investment option, including listed securities, term deposit/s and cash will be registered in the name of JP Morgan Nominees Australia Limited, as custodian, for AustralianSuper Pty Ltd as Trustee of AustralianSuper. You must register for the Site and agree to be bound by these Terms and Conditions governing the use of this platform. You can only view and transact on investments held in the Member Direct investment option through the Site."

"I believe you are remarkable ill-informed but not more so than many people on these forums"

Perhaps, perhaps not. PBO analysis seems to agree with me though.

Sorry for "wasting" your time.