Do-it-yourself superannuation funds have slammed Labor's proposal to ditch cash refunds for excess dividend imputation credits, arguing that it unfairly singles out self-directed investors as one of the few groups paying double taxation on company profits.
Labor's proposal will further undermine confidence in the super system and force many trustees to overhaul their strategies, which have been faithfully formulated based on the current policy settings, said the SMSF Association.
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Sally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com
Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
