When co's make a loss they get a 'tax credit'.,co's also get to claim expenses.These are the tax rules for co's.
smsf's are established to produce an income for the retiree,if the smsf makes a loss they don't get a credit because they can't claim credits because they don't pay tax.
Don't cry poor ?,going by the actu 80% of smsf's are poor,they live of the minimum wage ie $37,000.The actu wants a living wage for minimum wage earners,are they going to fight for the smsf's that live off the minimum wage and make sure smsf's get a 'living wage'? ie the govt top up their minimum earnings or just let them collapse and end up at centrelink.
Cap the fc refund but to abolish it is attacking the poor going by the actu.
Ann: Update - Dividend/Distribution - TLS, page-52
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