Bill Shorten Says No Increase In taxes During Superannuation

The Labor Party leader Bill Shorten has said that there will be no increase in taxes during superannuation. He was addressing the press in Adelaide where a question was raised about introducing additional taxes. There have been few concerns from the labor party about few measures that would affect the members on superannuation particularly in SMSFs.

According to Labor Party, if they come into power there will be no refundable franking credits from 1st July this year. The opposition party has also offered to give exemption for age pension groups under this scheme. The SMSFs with one pensioner before 28th March 2018 are expected to get exemption from new changes.