A plan by the federal opposition to axe cash refunds for franking credits has met intense criticism, particularly among those with self-managed super funds.
A petition of concerned individuals has garnered some 25,000 signatures, as part of efforts within the Alliance for a Fairer Retirement System.
We expect the proposed change to cost retirees in the future thousands of dollars in lost franking credit refunds.
We are monitoring closely and we will learn more in the new year as the federal election approaches.
A PDF copy of Morningstar’s Note is downloadable here.