I would be severely effected by the changes to Franking Credits under the Labour government.
My wife and I are both in pension phase and we are considering winding up our SMSF, to join an industry fund to take advantage of Franking Credits.
Do you have any recommendation as to which Industry Super is best?
I would like to wind up the fund by the last day of this financial year.
A: If you are thinking of closing your SMSF and moving to an industry or retail fund because of the possible change to franking credits, I would counsel against it. I would wait. You can see my reasons in my article in Switzer Daily here.
If the laws around franking credits change, there is no certainty that the Trustees of a large super fund, who by law must act in the best interests of all its members, will be allowed to “refund” that benefit to you.
In relation to large super funds themselves, I would consider Australian Super, REST, Catholic Super, Q Super