Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697633415662.pdf (Australia)
To Whom it May Concern I am a self-funded retiree, having worked diligently through my working career to save for my retirement through superannuation.

Legislative changes to the original superannuation bill over the last few years progressively eroded my ability to contribute to my fund as I originally planned and as I would have liked.

I no longer contribute to my fund and require every mechanism which is available to preserve my funds and financial independence.
I believe that appreciation of blue chip stocks do not provide any reliable additional source of income, so I have invested in blue chip stocks which pay dividends and franked credits.

Historically, good Australian companies have not varied dividend payouts significantly in good times or bad and as a result annual refund from franked credits has provided me with a reliable source of income.

My refund credits amount to about $15,000 annually.
When I learned of the proposal to remove the refund of franked credits I felt that once again a rule change would be imposed which negatively affects my independence.

I spent time considering what I could do and concluded the only course of action would be to sell the stocks I have and spend it quickly.

This legislation does not encourage preservation of retirement funds so I too would become dependent on government support by applying for a pension.
I am totally against the proposal to remove refunds from franked credits.

Please allow me to preserve my independence Regards Stewart Bayford Inquiry into the implications of removing refundable franking creditsSubmission 190