CJ
Have been following your threads and totally agree.Keep up the good work but it's like talking to an empty auditorium.
People will only wake up when there is the equivalent of a Kemlani affair because we have had it easy for too long
people just don't believe the impact-or thought about it.
Dividend imputation is equitable and also acts as a mechanism to support the Aus. equity markets which should be a source of capital.Kill dividend imputation and you kill this.
Am reminded of an old saying "It is an ill bird that fouls its own nest".
Labour's policies when inacted in late 2019 (expect them to be voted in) will coincide with with realization of falling bond prices/rising rates and difficulty in raising capital.Markets are close to all-time highs and near level longevity- hence all in all a perfect storm is brewing. It's not just the so called "wealthy" who will be affected,but everyone's super.
Must admit that at least Shorten is saying what he is going to do.The opposition suprise with no warning or logic.They should be out there putting the scarers on everyone about Labour's policies but they are just navel gazing and trying to solve their own problems.
The rot really set in when the cap was introduced without any grandfathering provisions.When one has invested totally within the law- and its not a question of whether it was good or bad- to have the rules changed in this way shows a level of expediency for little political gain.
It will just take another GFC type crisis for many to find themselves on the aged pension when they didn't plan to.I know of many in retirement who have spent close to half a mill to qualify for the pension.Caravans,boats,OS holidays,kitchen and bathroom upgrades.
You are right:money will flow into the priniciple residence as this will remain a holy cow.
I don't think that there is much we can do without sounding like a Jeremiah.
BTW we were just asked whether we had taken any lump sums out of our pension for the June-Sept quarter.This will have to be reported quarterly by the sound of things.
Will this be the next thing to be taxed?
