Absolutely agree and it raises a whole new question IMO! Franking credits change is going to make lots of Aussies sell shares in strong, successful dividend paying companies, does this also mean we are in fact setting it up so foreign investors will be able to pick our shares up at sale prices? Ie; 100000 pensioners sell down their TLS holdings who's going to buy? Labor never have understood the effect a negative change in tax policy makes, they always believe last years numbers will be next years numbers and that no-one will react to these cash grabs. History repeats on this over and over again, they have just never understood the work "disincentive", this is for you Bill
I for one have worked my ass off saving money for several years to not only support myself in retirement but to prepare for the fact I have a child who due to a disability may never be able to be fully independent, I've already stopped putting ANY extra funds in super, started doing that a few years ago when this war on large super accounts started. I made this change due to the above word Mr Shorten, I tell all young people there is no longer any reason to put a single extra cent into super, why would you? I put in extra for several years as there were incentives to do it and now my money is trapped in my super unable to be touched until probably 75 by the time I get there. When pollies call us a low taxing country they forget to add the 9% "TAX" we pay in the form of super, technically it's not a tax, but when the Government starts acting like it's their money and everyone is somehow entitled to it, in effect that's exactly what it becomes.
TLS Price at posting:
$3.26 Sentiment: Buy Disclosure: Held
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