One person’s unjust retrospective policy change is another’s overdue and necessary reform. Did people objecting about unfavourable policy retrospectivity complain when they benefitted from a retrospective change?
Author Archive | Ramani Venkatramani
Few people understand how valuable the ‘anti-detriment’ benefit was, which means there is little focus on how the Budget will collect $350 million from you in only two years. Imagine if they announced new death duties.
The Medibank sale was carefully handled to ensure not much was left on the table, but that did not prevent a scramble for shares. Both retail investors and institutions were allocated a fraction of their bids.
Individuals have their credit history checked by financiers whenever they apply for finance. Why isn’t there a way for retail investors to check the credentials of financial institutions before investing their money?
An article in November 2013 suggesting death duties be considered as a public finance tool attracted some strong criticism, and in the context of the need to fund ever-increasing deficits, the author defends his views.
* Roy Morgan Research says almost 7% of investors in retail super funds are ‘very likely’ to switch to another fund in the next year. Here’s the chart featuring all major super providers.
When the government is struggling to fund its budget deficit, it is naive to ignore a potential untapped and equitable revenue source while more complex taxes, such as those aimed at superannuation, are dreamed up.
It is inequitable for the ATO to require an SMSF to make advance payments of the estimated tax for the year, but not pay refunds in advance based on estimated franking credits.
The Government’s announcements to clarify future regulations on superannuation were welcome, but the brevity of detail leaves many questions unanswered.