Daily Bulletin


News

  • Written by Association of Independent Retirees



‘The Labor Party policy to cease Franking Credit refunds severely disadvantages retirees who miss out on qualifying for a part age pension” said Association of Independent Retirees Acting President, Wayne Strandquist.

In the lead up to the Federal Election, there will be strong advocacy to the Australian electorate by the Association of Independent Retirees (AIR) on behalf of partly or fully self-funded retirees who have low to moderate retirement income. Many of these retirees just missed qualifying for a part Government age pension and will not receive Franking Credit refunds under the Labor policy.

Retirees who planned their finances according to the rules at the time they retired, invested in Australian shares that attract Franking Credits. ‘Now the Labor Party wants to “shift the goalposts” leaving self-funded retirees with no ability to make up the income they will lose if Franking Credit cash refunds cease”, said Mr Strandquist.

As well as not supporting the removal of Franking Credit refunds, AIR will be advocating against other policies that impact on retirees such as restrictions on Negative Gearing and increases in the Capital Gains Tax.

“To support the advocacy leading up to the Federal election, AIR has adopted a new look logo that reflects the importance of the “independence” to members of our organisation that represents partly and fully self-funded retirees”, said Mr Strandquist .

“Today, more than ever “independence matters” for retirees – independence in the approach to retirement income and investments, independence in lifestyle and housing options, independence in health and aged care choices”, said Mr Strandquist.

To strengthen advocacy for its membership, AIR joined the Alliance for a Fairer Retirement System in March 2018. AIR has made many submissions* at a National, Branch and Member level to the House of Representatives Inquiry into the implications of removing refundable Franking Credits. AIR representatives have also made statements at public hearings held by the Inquiry.

“Over the past few years, successive Governments have amended legislation for superannuation and retirement savings that have adversely impacted on retirement income which could not have been anticipated when financial plans were made for retirement. Whilst grandfathering has been a principle we recommend be applied to legislation changes, it has not always been used by Governments in amending rules that affect fully and partly self-funded retirees,” said Mr Strandquist.
Writers Wanted

Why Netflix Increased Prices for Australian Customers

arrow_forward

Expanding Victoria's police powers without robust, independent oversight is a dangerous idea

arrow_forward

New Zealand companies lag behind others in their reporting on climate change, and that's a risk to their reputation

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Did BLM Really Change the US Police Work?

The Black Lives Matter (BLM) movement has proven that the power of the state rests in the hands of the people it governs. Following the death of 46-year-old black American George Floyd in a case of ...

a Guest Writer - avatar a Guest Writer

Scott Morrison: the right man at the right time

Australia is not at war with another nation or ideology in August 2020 but the nation is in conflict. There are serious threats from China and there are many challenges flowing from the pandemic tha...

Greg Rogers - avatar Greg Rogers

Prime Minister National Cabinet Statement

The National Cabinet met today to discuss Australia’s COVID-19 response, the Victoria outbreak, easing restrictions, helping Australians prepare to go back to work in a COVID-safe environment an...

Scott Morrison - avatar Scott Morrison

Business News

5 Essential Tools for Working Remotely in 2020

The average, modern office worker spends 8 hours a day, 5 days a week in a company building. Since the start of COVID, however, many of these companies have allowed workers to work from home due...

News Company - avatar News Company

What happens to all those pallets?

Pallets — they're not something everyday people often give much thought to. But they're an integral part of any business which receives or distributes large quantities of goods. But once the goo...

News Company - avatar News Company

Ten tips for landing a freelance transcription job

Transcription jobs are known to be popular in the field of freelancing. They offer fantastic job opportunities to a lot of people, but there are some scammers who wait to cheat the freelancers. ...

News Company - avatar News Company



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion