Regarding the labor proposed super change, you answered a question as follows: Answer (by Paul Rickard): I can’t quite see why some commentators would recommend this strategy. Industry super funds won’t be in a position to receive cash refunds – so I guess this is more about an option to consider if you don’t want to manage your own SMSF.

I am not a super expert, but my fund (Australian Super) says they paid $1.4 billion in tax in 2017 (google Australian Super’s tax transparency report). My interpretation is that they could therefore accommodate a lot of new members – being current SMSF who will lose imputation refunds under Labor’s proposal and still remain a net tax payable fund.

I agree industry superannuation funds would not be eligible for a tax refund under Labor’s policy. However, most large funds pay net tax. Therefore they would be able to distribute franking credits to all members whether they are in accumulation or pension mode. Accordingly SMSF pension members should seriously consider transferring their Australian equity allocation to a tax paying industry / retail fund if Labor wins the next election in my opinion. Do you agree ?