The new Labor Party’s contentious policy to deny a cash refund for excess franking credits has sparked a debate about who is rich and who pays tax, with ambiguous data that is confusing most people. Since the announcement only a few weeks ago the Shadow Treasurer Chris Bowen has just announced modifications to the proposals to offer significant carve-outs for pensioners, which will include SMSFs in some cases.
[Read more…] about The impact on pensions and super from loss of excess franking