Reply to thread

what it means is that Super earnings are taxed separately to your regular earnings outside super.

For example, Some one could be earnings $100K inside their super and have that taxed according to the rules and rates of Super, while they also may have income outside of their super which they would pay tax on at the marginal rate, taking advantage of the tax free threshold.

The proposed plan would make it impossible for people to get a refund of the franking credits that they can get now when their earnings are below the tax free threshold.

However it would still allow people with Part time jobs, Investment properties, term deposits, bonds and share trading income and any other income from using the tax free threshold, it simply targets one set of investors eg, share holders.

Not only is it unfair to target one group of investors, but also targets smaller investors over larger ones.

-----------------

 I will be fine, I earn enough dividends to put me in the highest tax bracket so I don't get a refund I have to contribute extra money to bring the 30% already paid up to my tax bracket.

But the smaller investors are the ones that will get screwed, just because they chose to invest in a company (which we need more people to do), instead of a direct investment property (which is already saturated) they will be over taxed.