Superannuation

Labor not budging on dividend imputation tax plan

Opposition Leader Bill Shorten is refusing to back down on the dividend imputation policy despite a widespread backlash against Labor’s plans to abolish franking credit cash rebates for retiree investors.

The Labor leader last week rejected calls to water down the proposed policy, or exempt pensioners or those with modest self-managed superannuation funds.

Mr Shorten said Labor was braced for “a tough debate” and it was unfair that “a few people” could claim a tax refund when they had paid no tax.

ALP dividend changes need more consideration

National Seniors Australia has warned proposed ALP changes that would end cash refunds to retirees claimed through share dividend imputation could backfire.

Chief Advocate Ian Henschke said this week that the plan, designed to claw back $59 billion over 10 years from wealthy retirees, could hurt many full and part age pensioners who had been encouraged to diversify by including shares in their retirement portfolios.

Time out of workforce takes toll on women's super

Women will continue to retire with less super than men due to time out of the workforce and lost compound returns, a new study shows.

In a first of its kind, Industry Super Australia adviser and former Treasury retirement modelling head, Phil Gallagher, used data from the Australian Bureau of Statistics (ABS) to plot both pay and superannuation gaps by age and salary.

Win tickets to self-managed super fund event

National Seniors has 30 tickets to the Self-Managed Super Fund in Focus event to be held in Sydney on 30 October.

Hosted by the Self-Managed Super Fund Association, the event will be held between 9am and 4pm at the Aerial UTS Function Centre, UTS Building 10, Level 7, 235 Jones St, Ultimo.

The event is designed for SMSF trustees to ensure they are up to date with their obligations.

It will help trustees to: 

Melbourne seminars help to boost financial know-how

Victorian members of National Seniors can boost their financial knowledge at seminars in Melbourne on Monday, 9 October.

National Seniors Financial Information Desk senior officer Basil La Brooy will be presenting information aimed at helping people understand their own situation and resources.

Topics include opportunities for those who will be fully self-funded in retirement, Government Income Support (GIS) and equity release products.

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