Bill Shorten Cops Further Backlash over super, accountant comments

SMSF software firm BGL has lashed out over comments made by Bill Shorten after he labelled deductions for managing tax affairs as a “rort” and claimed there would be no additional taxes on super under Labor.

BGL Corporate Solutions managing director Ron Lesh has defended the work of accountants after Opposition Leader Bill Shorten stated that tax deductions for managing tax affairs was a “rort” and a “sweet deal” for the wealthy.

“As a chartered accountant, I am personally insulted by Shorten’s comments,” Mr Lesh said.

“When I was in practice, I never ‘rorted’ any of my clients, and in my 30 years at BGL, I have not seen my clients ‘rorting’. I see thousands of accountants providing their clients with the best advice for a reasonable fee — and that fee is often more than $3,000.

“Survey after survey shows accountants are the most trusted financial and tax advisers in the community.”

Mr Lesh was also critical of Mr Shorten’s suggestion that franking credits are “welfare payments”, stating that the removal of refundable franking credits would be a “retiree tax”.

“Australians need to realise that there is a huge difference between the policies of the two major parties,” Mr Lesh said.

The Institute of Public Accountants and the Chartered Accountants Australia and New Zealand have similarly expressed concerns about Labor’s proposal to cap deductions for managing tax affairs to $3,000 and some of the recent commentary by Labor on the issue.


By Miranda Brownlee

SMSF Adviser

17 April 2019

#SelfManagedSuperFund #SMSF #Superannuation #Accountant

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