If Labor legislates to withdraw franking credit refunds, retirees have an alternative for their pension superannuation to retain the refund. It shows the proposal does not have ‘horizontal equity’ between structures.
If you have been maintaining a small inactive superannuation fund purely for insurance purposes, you need to act quickly to avoid losing cover which might be difficult to replace.
The ‘direct investment options’ may have structural advantages for franking credit refunds, but that does not mean SMSFs do not have their own specific advantages. What’s best for the superannuant?
In the 2019/2020 Federal Budget, the Government made few changes to superannuation rules to assist retirement planning.
From 1 July 2020, Australians aged 65 and 66 will be able to make voluntary superannuation contributions, both concessional and non-concessional, without meeting the Work Test.
Sections of the superannuation industry presented a wishlist to Government for the 2019 Budget. How many changes made it into Josh Frydenberg’s document? None of the significant ones.
A reader observed that the Australian Financial Review reported that ‘member direct’ offers will not receive franking credit refunds. Some industry funds have confirmed their options operate in one pool.
There are reassuring trends that more women are becoming confident investors, but they lag men significantly and feel more unprepared for retirement despite living longer.
Many commentators are assuming all industry and retail funds can utilise their franking credit refunds, but a case-by-case check is required. Plus hard words from a cranky reader.
The Labor franking credit proposal creates a group of people who count franking credits as taxable income, and another group that doesn’t. A basic principle of tax should be horizontal equity between investment structures.
After a year of analysing financial services like it has never been done before, the RC Final Report was released today with 76 recommendations which are expected to be adopted. What will change?
It sounds arcane but it could be costly. For the first time, about 44,000 individuals will receive their first Division 293 notice early in 2019, and it will surprise many.
Where once it was difficult to differentiate between the superannuation policies of the two major political parties, the 2019 Federal Election will deliver some stark choices for voters.
Selecting 10 winners from hundreds of alternatives presents major challenges, and there are no guarantees past performance will continue. It mainly targets only $1 billion from the $150 billion contributed each year.