Franking credit debacle
LABOR'S proposed franking credit policy will impact me and many Australians.
Many self-funded retirees are unaware that they are at risk of losing a third of their income.
In particular, abolishing refundable franking credits will unfairly impact me and many people of modest incomes who have already retired, and who are unlikely to be able to return to the workforce to make up the income we will lose. Such a policy discriminates against retirees in SMSFs in favour of members of APRA-regulated industry and retail superannuation funds and those eligible to receive a part or full age pension before March 28, 2018.
Our favourite treat is to walk around our beautiful city once a week and enjoy the sights and sounds over a coffee or lunch.
When we and many others have to cut back on any discretionary spending we may have, this is likely to be high on our list and will impact many businesses Launceston relies on to be such a special place.
Instead of appreciating the achievements of hardworking Australians who did the right thing as demanded by successive governments in reaching retirement without being a burden on society, we now seem to be targeted as a legitimate bank to rob.
Ovie Taylor, Newstead.
Terrible Retiree Tax
The change proposed by Labor to cease payment of franking credit cash refunds will have a long-term adverse impact on the income needed to sustain self-funded retirees' independent living over a possible 25 to 35 years in retirement.
Labor fails to recognise that tax has already been paid by the companies owned by their shareholders.
By not returning imputation credits on dividends, the ATO would be retaining a share of company profits legitimately earned by the company owners who are on low to nil taxable income, that is income received below $18,200 do not pay tax.
The impact of this, should it begin in July 2019, will be felt by most of the 1.9 million Australians who are fully or partly self-funding their own retirement income. This number will grow significantly.
The proposal to allow pensioners access to the imputation credits is to be applauded. However, with changes to the age pension asset test and the change in taper rates, many self-funded retirees no longer qualify even for a part pension, even though they have a very low income. If Labor is elected and this proposal is implemented, then like other proposals in the past, the changes should at the very least be grandfathered.
Glen and Mary Cornish, Riverside.
School gate Picketers
I went to pick up my daughter from the local school this week and it was surrounded by picketers holding up banners and pushing pamphlets onto those who tried to get past them footpaths outside the school.
I managed to get around them by walking on the road until parked cars meant I couldn't and a picketer blocked my way and asked me to "support education".
When it became clear how difficult it would be to get into the school, I waited on the other side of the school crossing for my daughter to come out.
I cannot see how disrupting parents and children from leaving a school could help the cause of education, but no doubt the picketers believe it does. No doubt they see the primary school as just a business, and children and their parents as customers, that by disrupting they can somehow further their cause.
I believe the personal safety of children and their schooling is far more important and was rather sad to see this outside group (I think they were advertising something called AEU) causing chaos for our community here in St Leonards. Here's hoping it doesn't happen again.
I have been part of the community here for over 10 years, and have enjoyed how we - parents, children, volunteers, teachers, support staff - work together to make this place better. We don't need external divisive groups to come along and destroy that.
Dave Yetman, St Leonards.
IN Australia today if I self identify as a handicapped individual can I park in handicapped parking spots?
If not, why not?
Jack Sonnemann, Lucaston.
IMAGINE what would happen if a driver drove a black car out at night, no lights, totally invisible, and ploughs into a cyclist.
Imagine what would happen.
Cyclists would be calling for their head on a pike.
And rightfully so.
So why is it that cyclists can ride all in black at night with no lights, totally invisible, and plough into drivers?
It's like the minority are actively trying to ruin this activity for everyone else.
Davis Seecamp, Trevallyn.
FURTHER to P. A. Grout's letter (The Examiner, May 3) my aunt sent me a birthday card - postmarked January 4, 2019, thinking I would receive for my birthday four days later. Alas, I did not receive the card until January 23, 2019.
You may think what's the problem - it was posted from Clarence Point, West Tamar, and had to go to Invermay, Launceston.
I get mail from overseas quicker than this.
She also sent a card for my mother's birthday in early March and she has not received the card yet?
Good on you Australia Post.
Rosanne Fitch, Invermay.
UNIVERSITIES are a taxpayer-funded service.
If they are a business the should not be allowed to have a monopoly.