If the Australian Labor Party are elected in 2019 they intend to ban the refund of excess franking credits. This means, if your SMSF received a tax refund at the end of the financial year because your franking credits exceeded any tax payable, you will no longer receive that money. SMSFs are significantly affected because…
January 7, 2019
Podcast: A frank discussion about the ALP dividend proposals
First published by nabtrade and can be found here. Licensed by Copyright Agency. Some investors have sold off parts of their portfolio and changed their asset allocation under the assumption that the Opposition’s policy proposals have been implemented. However, this is not the case and frankly, any announcements could take a while to reach implementation. With ongoing…
September 28, 2018
Franking credits inquiry announced: Have your story heard – The Alliance for a Fairer Retirement System
Video featuring John Maroney, CEO, SMSF Association & Ian Henschke, Chief Advocate, National Seniors First published on the Alliance for a Fairer Retirement System website. The House of Representatives Standing Committee on Economics has announced an inquiry into the implication of removing refundable franking credits. This inquiry will report on the use of refundable franking…
April 27, 2018
Opposition to the Australian Labor Party’s Franking Credit Policy Letter
The SMSF Association has drafted a letter that you can send to Federal Members of Parliament (MPs) and Senators to express your opposition to Labor’s franking credit policy. The letter details the policy weaknesses and unfairness of the Labor policy. This letter can be used for you to send a personal letter to your MP…
April 17, 2018
SMSF Association’s Policy Position: Labor’s Proposed Imputation Credit Policy
Dividend imputation system distorted The SMSF Association supports the current policy settings for the dividend imputation system. The current system prevents double taxation on company profits and ensures shareholders are taxed on company profits at their marginal tax rate. A shareholder in a company is therefore in the same economic position as a sole proprietor…