Retirement
New political party for retirees in the works
In response to a host of tax changes set to impact self-managed super fund trustees, one industry veteran looks set to launch a political party aimed at lobbying for self-funded retirees.
New political party for retirees in the works
In response to a host of tax changes set to impact self-managed super fund trustees, one industry veteran looks set to launch a political party aimed at lobbying for self-funded retirees.
The SMSF Party, launched by I Love SMSF chief executive Grant Abbott, is intended to influence policies at the executive and legislative branches of government.
Mr Abbott said the party aims to “promote and foster the growth of SMSFs while protecting the current benefits of existing SMSFs and their members”.
“These benefits include contributions caps, franking credits, borrowing in super, related party loans and ensuring the opinions and concerns of members, trustees, advisers, brokers, auditors and accountants are heard,” Mr Abbott said.
The party, he said, will endorse candidates for Senate and House of Representatives elections, who will, where elected to office, work to further the ideas and values of The SMSF Party.
Any permanent resident or citizen of Australia who is not a current member of any other Australian political party is eligible to become a member of the party.
The move from Mr Abbott was prompted by policies including Labor’s plans to scrap refundable franking credits if it is elected to govern.
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