Labor policy to stop refunding franking credits

Words that matter. What’s a franking credit? What’s dividend imputation? And what’s ‘retiree tax’?

Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University. You’re forgiven for being confused. Newspapers need to economise on words. Television and radio reporters need to economise on seconds. So they use shorthand: words like “dividend imputation”, “franking credits”, and yes, “retiree tax”. Which is fine if… Read More »Words that matter. What’s a franking credit? What’s dividend imputation? And what’s ‘retiree tax’?

Labor calls for Tim Wilson to resign Chair of Committee running franking credit inquiry

Labor has called for Liberal MP Tim Wilson to resign as Chair of the House of Representatives Committee conducting an inquiry into refundable franking credits. Labor claims that Tim Wilson has a conflict on interest, following from a report in the Sydney Morning Herald detailing connections between Tim Wilson and… Read More »Labor calls for Tim Wilson to resign Chair of Committee running franking credit inquiry

Stop the Retirement Tax website criticised, registrations not required

The Parliamentary website of the franking credits inquiry says it is the official page of the inquiry and that pre-registration for public hearings is not required. This is despite the fact that the criticised Stop The Retirement Tax website has been registering attendees. Breaking: Labor have called for Tim Wilson to resign as Chair of the Committee conducting the inquiry into refundable franking credits, claiming a conflict of interest The House of Representatives Standing Committee… Read More »Stop the Retirement Tax website criticised, registrations not required

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