I don’t doubt it has a small effect, I’m also 100% against the...

I don’t doubt it has a small effect, I’m also 100% against the tax as it represents double taxation and a minimum of 30% tax rates on low income retirees.

However I’d argue this policy per se isn’t the reason for the asx under performance. The asx has limited sectors, mainly financials and materials. An ALP government in general scares investors, and rightly so. Our nation will become even more inefficient and of course lag global markets. 

if the AUD spikes on the back of commodities and no rate cuts, then I’m tempted to switch a significant amount of capital to USD in my superfund waiting for a correction.