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HANDS OFF Franking Credits

19 October 2019 Rahul 0 Comments

    • Leave franking credits alone - Franking credits arise because the shareholder has invested in a company that has paid the appropriate Australian tax on profit that is then distributed to an investor, someone who is often a pensioner.
    • TAX IS ALREADY PAID by the business owner.   WHY does Labor feel the business owner isn’t entitled to a tax refund or cash credit like any other tax payer in the country gets.  Those most hurt will be SMSF holders in pension phase, pensioners and those on low incomes – all deserve better but not according to Labor.
  • Preserve the value of Franking Credits for Small businesses. Grossly unfair that small business owners who have paid 30% company tax, yet only receive 27.5% credits with their dividends. This is a tax increase of 10% and only on small business owners.