47% support for stopping refunds of franking credits, 29% opposition

The ABC has found that 47% of Australians support stopping refunds of franking credits.

An analysis of ABC Vote Compass responses found that 47% support stopping refunds of franking credits, with 29% opposed and 16% unsure. Vote Compass is a tool developed by political scientists to explore the views of voters.

Vote Compass asked voters: “Do you agree or disagree that the government should stop issuing franking credit refunds?”

Adding “even if it results in less money for retirees” reduces those in favour to 40% and increases those opposed to 35%.

Labor’s policy is to stop refunds of excess franking credits for individuals and super funds, with Age Pensioners largely exempted.

Those most likely to disagree with stopping franking credits were over age 55 (41%), while people aged 18-34 had the highest neutral responses (21%) or ‘don’t know’ (17%).

People on higher incomes were more likely to oppose the proposal, with 36% disagreement from those earning over $130,000 (and 41% agreement). 30% of those earning under $52,000 disagreed, while 47% agreed.

Across all age and income ranges support for stopping refunds of franking credits outweighed opposition.

Support or opposition to stopping refunds of franking credits may be connected to support for particular political parties. 58% of Coalition votes opposed stopping refundable franking credits, while 63% of Labor voters and 53% of Greens voters agreeing with the proposal.

The ABC says the responses “have been weighted by gender, age, education, language, place of residence and past vote to match the Australian population, creating a nationally representative sample”. The sample size was 73,011.

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