Via the AFR:
Following a warning last week by shadow treasurer Chris Bowen that Labor again had its sights set on loopholes enjoyed by the so-called wealthy, he and Opposition leader Bill Shorten will announce today that the cash refunds will be abolished from July 1, 2019, if Labor wins the next federal election.
Mr Shorten will stress that those affected – about 200,000 of the 600,000 who use self-managed superannuation funds along with another 1.2 million taxpayers – will not pay any more tax. But they will not be entitled to a cash refund if their imputation credit on their dividend is more than their total tax bill.
