franking credit changes affect smsfs, page-13

  1. 10,509 Posts.
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    There are always inequalities but if we did have a universal pension then you would know what you are going to receive unlike what we have now where the lot could disappear with some poor advice as for the politicians and highly paid they should have enough brains to put some extra aside to keep them in the style they are accustomed to.
    Superannuation was designed for a life time of contributions so people who are retired and retiring soon have not had the 45 years of contributions that coming generations will have when they retire and some will be hurt if the franking credits changes get through as they are.
    Australian shares have done well on the back of 25 years of growth but something like the 87 crash can really gut your super if you are close to retiring ,for lower paid workers over a life time their super will only return about the same as the couple pension so super is not free from risks but like you say the chance of substantial change to the tax system is unlikely.
 
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