Ann: Update - Dividend/Distribution - TLS, page-60

It is not unethical to work within the rules set by government aimed at encouraging people to save for their retirement. Nor is it a loophole. The fact remains that for at least ten years, people have put their money into self managed super funds under those rules. The rules will be changed under Labour if they get in, so that retirees will lose 30% of their income which they would receive from franking credits. Retirees on a government pension as of March last year will not be effected, nor will industry super funds. It is just a tax grab focusing on a particular group of retirees. I hope that when you retire, some government doesn't change the rules taking away a large part of your income.

I understand there are about 1.1 million people in self managed super funds who will definitely not be voting Labour. Then there are their children and grandchildren, maybe another two or three million.