Labor policy to stop refunding franking credits

Voters “perfectly entitled” to vote against Labor over franking credits: Labor

The battle between the Labor and Liberal parties over franking credits is heating up. Labor announced its policy of stopping most refunds of excess franking credits in March 2018, but the fight over it has escalated in the first few weeks of this election year. Speaking on ABC radio, Shadow… Read More »Voters “perfectly entitled” to vote against Labor over franking credits: Labor

Cancer Council Qld worried about donations after franking credit change

The Cancer Council Queensland is concerned about a potential reduction in donations as an unintended consequence of Labor’s proposed changes to franking credit refunds. Labor has a policy of stopping refunds of excess franking credits for most taxpayers. Update: The Cancer Council Queensland has asked that its submission to the… Read More »Cancer Council Qld worried about donations after franking credit change

Labor’s franking credit policy a “cruel blow” to retirees

Labor’s policy to stop most refunds of franking credits is cruel blow to retirees, and fails four tests of public policy, says the Alliance for a Fairer Retirement System.

The Alliance for a Fairer Retirement System says Labor’s franking credits measure fails four tests of sound public policy – adequacy, sustainability, certainty, and “most importantly” fairness.

Read More »Labor’s franking credit policy a “cruel blow” to retirees

Labor facing backlash on franking credits from ‘grey army’

Labor is facing a backlash on its policy of stopping most refunds of franking credits from the “grey army” of over 1 million self-funded retirees, Advance Australia has claimed.

Advance Australia, sometimes described as the conservative answer to GetUp!, has so far received over 6,500 signatures on its petition against Labor’s policy and has a target of 10,000.

Read More »Labor facing backlash on franking credits from ‘grey army’

SMSFs likely to switch to international shares under Labor franking credit plan

SMSFs are likely to switch from Australian shares to international equities if Labor’s plan to stop refunds of dividend franking credits goes ahead.

Labor plans to stop refunds of excess franking credits for most taxpayers, with exemptions for Age Pensioners and some SMSFs.

A survey of SMSF trustees by SuperConcepts has found that 72% of respondents plan to change their investment strategy in response to the loss of franking credit refunds.Read More »SMSFs likely to switch to international shares under Labor franking credit plan

Newspoll finds only 30% support stopping refunds of franking credits

Newspoll finds that only 30% support Labor’s policy of largely stopping refunds of franking credits.

Labor has announced a policy of stopping refunds of franking credits, with exemptions for Age Pensioners and some SMSFs.

The Australian reports that the Newspoll found 30% support for the policy, with 48% opposed and 22% uncommitted.Read More »Newspoll finds only 30% support stopping refunds of franking credits

Stopping refunds of franking credits has more support than opposition: poll

More people support stopping refunds of franking credits than oppose it, according to a new poll. The latest Guardian Essential poll found 39% total support for stopping refunds of dividend franking credits. 30% in total oppose the measure, with 31% answering ‘don’t know’. Included in these figures are 15% who… Read More »Stopping refunds of franking credits has more support than opposition: poll

Refundable franking credits wouldn’t be part of tax system designed today

The Institute of Public Accountants (IPA) says that if the tax system was designed from scratch it likely wouldn’t have refunding of franking credits, but doesn’t support stopping refunding the credits without broader tax reform. IPA CEO Andrew Conway says: “If we were designing a new tax system today, you would… Read More »Refundable franking credits wouldn’t be part of tax system designed today

Advance Australia campaigns against Labor franking credit refund policy

Advance Australia, a new lobby group that has been likened to a conservative Get Up!, is campaigning against Labor’s franking credit policy. The Advance Australia website currently lists only two campaigns: one opposing Labor’s policy to stop refunds of franking credits for many taxpayers and other around not changing the… Read More »Advance Australia campaigns against Labor franking credit refund policy