POWERED BY MOMENTUM MEDIA
Wilson sees post-election hope for franking credits
One of the mainstays of the campaign opposing the Australian Labor Party’s (ALP) move to remove refundable franking credits, fund manager Geoff Wilson, has signalled a continuation of the fight even if Bill Shorten becomes Prime Minister.
In a letter to shareholders, the chair of Wilson Asset Management said it was still possible the ALP’s franking credit changes would be blocked in the Senate.
“Regardless of which political party wins the upcoming Federal Election, we hope that Labor abandons or dramatically changes this inequitable policy,” he said.
“We believe there is cause for hope. For example, nine of the 10 crossbench Senators have committed to blocking the changes if they reach the Senate in their current form and two have adopted our term for the policy – “retirement tax”.
Wilson said his company’s campaign against the proposal to remove franking credit refunds “had secured the policy’s position as a key election issue and ensured it has attracted the scruinty it deserves”.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
