Labor’s proposal to abolish refunds of unused franking tax off-sets & subsequent exemption for pensioners – protests from SMSFs and self-funded retirees continue
On 13 March 2018, the Opposition Leader: Bill Shorten announced that a Labor Government would, if elected (and the Senate permitted), abolish cash ‘refunds’ of excess dividend imputation credits for individuals and superannuation funds. On 27 March 2018, the Treasurer (Chris Bowen) ameliorated this measure by exempting pensioners and pensioner SMSFs (what they call the…