The Bill Shorten threat to franking credits and tax refunds for retirees in self-managed super funds (SMSFs) has led to some ‘experts’ suggesting it’s time to change the way these super trustees invest. But I say: DON’T listen to them unless your current investment strategy is wrong!
And anyway, I’d wait to see if Labor wins first and then let’s see what the Senate thinks of his ‘tough love’ shown to retirees with an SMSF and not getting a sniff of a pension. The Senate might insist that retirees receiving $10,000 in tax refunds be allowed to get their tax refunds.
Sure, I advocate more tweaking to an investment strategy that was a ‘set and forget’ portfolio of income-generating assets created to maximise the tax refund but there’s no need for a wholesale change in approach and a new set of assets to be acquired.