I wouldn't like it at all, but it's a ridiculous analogy. The...

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JonnoH

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14/11/18

18:05

Post #: 36506013
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Originally posted by rocket973 ↑

"it was more about making sure each got the same benefit , in dollar terms, from my excess credits. "
The person in the pension stage gets the benefit of the franking credits, the franking credits are used to pay the tax on the accumulation fund. This is taken care of by the accountants and audits.
Yes, I see Jonnoh is worried about some SELF FUNDED retirees not paying tax. So what. These people have worked extra hard during their lives and saved and have ALWAYS looked after themselves.
These are not people who are looking for a handout.
My intention with my children as members in the SMSF is to make them more aware of the planning requirements for retirement instead of sucking on the public tit like Jonnoh prefers people to do.
The less people of welfare the better for the country. To incentivize people to take care of themselves in old age will be better for everybody, the cost of a pension for everybody in old age would cost a fortune.

Agreed "any real idea of the amount of cunning and avarice that resides in the black hearts of baby boomers with SMSF's."
Never was a truer word said. Many SMSF self funded retirees have worked their butt off and saved during their working life, they're not about to let some rip-off merchant like Shorten raid their cookie jar.
I wonder how Jonnoh would like it if Labor told him to sell his home and donate the proceeds to the Labor party or the greens.

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I wouldn't like it at all, but it's a ridiculous analogy.

The govt is not raiding your cookie jar, they are just removing your hands from the company tax cookie jar so that the taxpayers don't have fork out more to pay for our services.
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