The Alliance for a Fairer Retirement System, comprised of several industry associations, has launched a website to cater to the growing demand from organisations and individuals seeking support, information and research on the impact of scrapping excess imputation credit refunds.
The new site, www.fairerretirement.com.au, provides information and relevant news for investors, retirees and small business.
It also allows individuals to lodge their personal stories concerning potential outcomes should the proposed Labor policy come into effect at some point in the future.
The launch of the website comes off the back of growing scrutiny about the proposal, including Treasury’s recent analysis that casts doubt about the likely revenue to be generated as a result.
According to the alliance, the recent scrutiny of the proposal is another thread in the growing fabric of discontent by everyday Australians who stand to be adversely affected by the plan.
Last week, alliance representatives met with opposition treasury and small business spokesman Chris Bowen and Council of Small Business of Australia chief executive Peter Strong to discuss the issue.
“Many small business owners may be unaware of the impact of Labor’s proposal on their retirement plans,” alliance spokesperson Deborah Ralston said.
“Those who have invested equity in their company and rely on dividends to fund their retirement may be surprised to find a significant fall in income.”
The alliance recently added three more national associations: the Association of Financial Advisers, Australian Investors Association and Association of Independent Retirees.
The body was formed in May to explore options to fix problems with the existing superannuation taxation, age pension means testing and broader retirement income systems.
Its members include the SMSF Association, Self-managed Independent Superannuation Funds Association, Australian Shareholders’ Association and National Seniors Australia.
The associations represent millions of senior Australians, shareholders, self-funded retirees and those planning a sustainable retirement, including over 1 million SMSFs.
