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Thank you for your article on 6th September.
I am in pension mode in a smsf and receive franking credits of about $10k refunded. The proposed ALP policy seeks to abolish this which is significant loss of income for me.
Your article provided various lower risk funds with decent yields plus most with franking credits except for VHY.
I also hold a significant amount of hybrids across all major banks including AMP and Macquarie.
How would you view the ALPs Franking credit proposed policy and how should someone with an smsf in pension mode handle this?
Thank you
A: I wrote about this the other week (see https://switzersuperreport.com.au/preparing-for-prime-minister-bill-shorten/ ). Importantly, the ALP needs to be elected, and then the legislation has to be passed by both houses of Parliament. This will most likely require a couple of cross bench Senators to vote in favour.
Hybrids could also be impacted. As they are typically more a retail rather than an institutional investment, I think the impact here could be greater than say on bank ordinary shares.
