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22 January 2025
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The Retirement Income Review demonstrated limited understanding of the risks faced by self-funded retirees implementing rational human behaviour. Spending to qualify for the age pension is not a solution.
Let's set this straight for the final time! Chris Bowen often used the example of a nurse on $67,000 who was at a significant disadvantage versus a retiree receiving franking. In fact, the outcome for both is almost the same.
Amid the many strategies proposed to overcome Labor's franking policy if adopted, often overlooked is building a portfolio of the right types of bonds and hybrids as an alternative source of income.
The design of superannuation is part of a social contract, and people who do not understand the long-term context are often offended that super funds should be tax-free in retirement. Don't blame Peter Costello.
Almost 2,000 people completed the franking credits survey, with 84% opposing the Labor proposal. Surprisingly, over half intend taking some action to mitigate the consequences.
A reader has asked for the simplest possible explanation of dividend imputation and franking, as the heated debate features many people who do not understand the basics.
Cuffelinks has published 15 articles related to Labor's proposed franking policy. In this compendium, each article is summarised and linked to, plus a 'sample letter' to his local member from an aggrieved retiree.
Labor’s policy on franking credits denies some taxpayers the benefit of taxes paid on their behalf, but a franking credit is money withheld by the ATO until the shareholder’s tax return is completed, just like a PAYG taxpayer.
Labor’s rhetoric of taxing the rich and standing up for women doesn’t match the facts. Their proposed imputation policy, if implemented, will raise little revenue and hurt low- and middle-income widows the most.
Labor’s proposal to deny cash refunds of franking credits may become law next year. SMSFs will consider the various alternatives to minimise loss of franking credits, including the use of member-directed investments.
A reader asks whether people can stay off the age pension by reducing the amount of money they live on in retirement but not drawing on their capital.
The logic on Labor's franking policy demands an answer to one question: how does a franking credit refund differ from an employee receiving a PAYG refund after putting a tax return?
Last year, I wrote an article suggesting returns from ASX stocks would trample those from housing over the next decade. One year later, this is an update on how that forecast is going and what's changed since.
The housing market was subdued in 2024, and pessimism abounds as we start the new year. 2025 is likely to be a tale of two halves, with interest rate cuts fuelling a resurgence in buyer demand in the second half of the year.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
The renowned investor has penned his first investor letter for 2025 and it’s a ripper. He runs through what bubbles are, which ones he’s experienced, and whether today’s markets qualify as the third major bubble of this century.
Key lessons include expensive stocks can always get more expensive, Bitcoin is our tulip mania, follow the smart money, the young are coming with pitchforks on housing, and the importance of staying invested.
Check out the most-read Firstlinks articles from 2024. From '16 ASX stocks to buy and hold forever', to 'The best strategy to build income for life', and 'Where baby boomer wealth will end up', there's something for all.