The SMSF Party, launched by I Love SMSF chief executive Grant Abbott, is intended to influence policies at the executive and legislative branches of government.
Mr Abbott said the party aims to “promote and foster the growth of SMSFs while protecting the current benefits of existing SMSFs and their members”.
“These benefits include contributions caps, franking credits, borrowing in super, related party loans and ensuring the opinions and concerns of members, trustees, advisers, brokers, auditors and accountants are heard,” Mr Abbott said.
The party, he said, will endorse candidates for Senate and House of Representatives elections, who will, where elected to office, work to further the ideas and values of The SMSF Party.
Any permanent resident or citizen of Australia who is not a current member of any other Australian political party is eligible to become a member of the party.
Yes Good move…..the union based industry super funds were so arrogant when i attempted to invest from our SMSF with them a few months ago. It is typical” union bashing” of the very people who have provided for their retirement at no cost to the government. Having worked for 50 years,paid all our taxes an not drawn any social security benefits, i think self funded retires deserve better.
I agree with many of the other comments, i.e. “Self Funded Retirees Party” would be a better name and appeal to a much larger audience. The SMSF community are a fundamental sub-group within that larger audience.
In the meantime I have joined your new party.
A SELF-FUNDED RETIREE PARTY HAS A MUCH GREATER PULL.
Bill Shorten. Coming for your tax returns.
Socialism is a philosophy of failure! the creed of ignorance, and the gospel of envy. Its inherent virtue is the equal sharing of misery. ~ Winston Churchill. In highsight I don’t know about the equality of the latter point to self funded retirees.
I would like to have the Politicians super be put on the same basis as the rest of Australia. I also think Self Funded Retires Party would appeal to a greater audience
Hi Andrew – I attended one of the Qld oversight committee sessions with Tim Wilson MP recently. The other politician in the room actually addressed this after retirees hammered them regarding their benefits. The reality is, much to the chagrin of the pollies at the time, back in 2004 John Howard who was one of our few real leaders did reduce their politicians super benefits so that they are treated exactly like everyone else with the same rules applying. Just wanted to correct that, as I was like you and thought they still had that horrendously extravagant perk. Mind you, ex-PM’s and the higher echelon do still get the other perks like manned offices and free travel which now should also be taken away.
Are you serious Grant? You leading this?
The best political party name would still have to be the “Party Party Party” Party……
Thanks for everyones support – register at http://www.thesmsfparty.com
I also think Self Funded Retires Party would appeal to a greater audience
Yes lets do this. How do we join?
Why limit the Party to those with an interest in a SMSF? Make it the “Self-funded Retirees Party” of which SMSFs is a sub-set. You would appeal to a much larger potential audience.
Well played SMSF Guru Abbott !!!!
Always leading the SMSF way.
I just joined my first political party 😀
Cheers
I was thinking along the same lines. How do we get the message to all members of an SMSF
Seriously!
Are we now so well off as a country that the single most important issue we have to deal with is protecting something which is simply a tax advantaged legal structure and has now grown so big it supports a whole industry of ticket clippers and rent seekers – including GA and his acolytes?
People need to save for retirement, definitely; but any rational examination shows who currently gets the most benefit from the superannuation system. I recall GA a few years ago described SMSF’s and Australia as one of the worlds most effective tax havens.
For the record I don’t agree with what Labor are proposing but I do agree that this country needs to have a serious and rational discussion about tax, who pays it and what is equitable. To my mind part of this discussion needs to be the interrelationship between the age pension – effectively a means tested annuity – and private retirement savings; this includes the cost/benefit of the current superannuation tax concessions.
Sorry Grant but I will not be supporting you!
Yep go do some sums Anom, if you want to buy a Life time annuity each for a new Age Pensioner couple, as the Govt effectively does (or more to the point we tax payers), then you need to stump up over $850,000.
That’s one hell of a gift to a retiree couple who haven’t provided for themselves.
If SMSF pensioners were treated the same as pensioners in industry funds then you may have an argument. The denial of refunding franking credits is a deliberate ploy by the ALP to create an unlevel playing field to attract more inflows to industry super funds thereby directly benefiting their mates in the union movement.
I am in. Great news.
Good stuff Grant! beat them at their own game of power…. nice one.
now more info please.
I’m in
Great! I am happy to join the party as well
I will join this party. Where do we find an application form?
I am happy to join the Smsf Party. I am disgusted by the proposals of Labor Party.
Where do we get involved?
WOOHOO! The present government is doing nothing constructive to further the cause of self-funded retirees , thereby easing the burden on the welfare benefits. Labor is hell-bent on doing as much damage as possible to the same retirees/future retirees and their SMSFs in order to appease the demands of the unions who control the industry super funds.
This move by Grant Abbott’s “The SMSF Party” is a much-needed shot in the arm for those who want and NEED a voice in Parliament.
Hahah employee