Proposal to abolish refundability of Franking Credits, page-290

I have ascertained from Shadow Treasurer’s office that as myretirement funds are in a SMSF (and don’t presently qualify for aged pensionasset wise)  I am not entitled to receivecash franking credits (Pensioner Guarantee – Labor speak)

If I later qualified for an aged pension I would not qualifyfor Pensioner Guarantee while funds were in SMSF.

 

However, if I  took moneyout of the SMSF and simply owned shares, then later if I  qualified for the pension, I  would be covered by the Pensioner Guarantee

 

Also ascertained that , if I transferred my SMSF to a retailor industry fund , I would qualify for Pensioner Guarantee

 

My wife has a small shareholding (family inheritance) in hername and receives under $2000 in franking credit refunds .

She will not be entitled to Pensioner Guarantee , because ofassets.

However, if our assets fall below the threshold for agedpension,  she would qualify for Labor’sPensioner Guarantee as shares are held in her own name.

My SMSF would not.

Why would Labor penalise me simply because my funds are held in a  SMSF rather than in say industry fund or own name.

 

The Government is to launch a Franking credit  enquiry https://smsmagazine.com.au/news/2018/10... y-website/

If you have a story to tell about the affect on yoursituation this can be made to this enquiry via
https://stoptheretirementtax.com

I have outlined my story to this enquiry