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Franking credits: time to consider your options

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Kavanagh
Comments (3)
  1. John Fraser says:

    Labor’s policy to stop the refund of franking credits is very discrimatory in favour of their puppet masters the unions.
    If you are a member of a Industry/union fund and are pension phase you will get your proportionate share of franking credits added to your members account.
    As so the so called large SMSF any balances over $1.6M will be put back into Accumulation phase and will be required to pay tax on that amount thereby reducing any refund of franking credits.

  2. Bruce Wallace says:

    QUESTION.
    I currently run an SMSF along with my wife as Trustees. To plan ahead with the possible franking credit changes I am asking the following question. Is it possible to transfer say $50,000-00 into an APRA regulated fund under our SMSF name and then wait until we see the likely outcome passed through Parliment, and if that outcome is taken up, then transfer a larger portion from my SMSF to add to that fund. Whilst still retaining some of my SMSF fund, due to it having investments in Gold, some Aust. shares and a Global ETF. This is to allow possibly franking credits to be taken up by that regulated fund.

  3. Paul says:

    The incentive to go without and apply savings for retirement is quite questionable.
    If I had known it would come to this thirty years ago I doubt very much that I would have even bothered.
    Many have come to the realisation that more and more changes are highly probabable.
    Watch as superannuation savings, other than compulsory super, will dry up.The tax receipts expected from the tax grab will certainly be a great deal less than expected and the number of retirees eligible for a DSS
    PENSION will rise.

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