MEDIA RELEASE: Fairer Retirement Summit highlights unfairness and poor design of proposed ALP franking credits refund policy
Updated fact sheet: Who will be affected by the denial of cash franking credit refunds?
Labor’s proposal to deny franking credits refunds was labelled grossly “unfair” by the Assistant Treasurer, Stuart Robert, at the Alliance for a Fairer Retirement System Inaugural Summit held in Sydney this week.
Addressing the more than 130 people who attended the Summit, Robert said: “The critical point is that more than 45 per cent of the 900,000 people affected are 65 years or older.
Governance, structure and operations of the Alliance for a Fairer Retirement System
The ALP’s policy to remove cash refunds on franking credits was according to Bill Shorten targeted at “the wealthiest 10% of SMSFs”. As analysis of ATO data and the Treasuryii reveals, however, it is those on modest incomes who will be most affected.
Franking Credits Inquiry Announced: Have your story heard | The Alliance for a Fairer Retirement System
The Alliance for a Fairer Retirement System is an informal collaboration of various associations that share a mutual interest in promoting reforms to Australia’s retirement system to achieve a fairer system for all. Continue reading for more information about the governance, structure and operations of the Alliance…
Alliance backs franking credits inquiry
The House of Representatives Standing Committee on Economics has announced an inquiry into the implication of removing refundable franking credits.This inquiry will report on the use of refundable franking credits, their benefits and the implications of their potential removal.
Simple Estimated Franking Credit Calculator
The House of Representatives Standing Committee on Economics inquiry into the implications of removing refundable franking credits will provide an important platform to highlight how this proposal will financially hurt millions of Australians, says the Alliance for a Fairer Retirement System.
Fact Sheet: Who will be affected by the denial of cash franking credit refunds?
The SMSF Association has a franking credit calculator that can be used to calculate the estimated franking credits on your Australian franked shares. Labor’s proposed imputation policy on refundable franking credits may mean your fund might lose these credits if the proposed policy is passed and you are in a refundable tax position.
Video: Chris Bowen on Labor's tax policy
It is estimated by the Parliamentary Budget Office (PBO) that over 1.2m Australian taxpayers will be impacted by the ALP policy.
Small business owners alerted to ALP franking credit proposal
In March Chris Bowen appeared on the 7:30 report to talk about the impact of Labor's proposed franking credit policy.
Comparison of LNP & ALP Super & Savings Policies
The Alliance for a Fairer Retirement System and the Council of Small Business Organisations Australia (COSBOA) are working together to highlight concerns about the Labor Party’s proposal to disallow refunds of excess franking credits.
The Alliance for a Fairer Retirement System highlights the impact on small business owners of the ALP’s franking credits proposal & welcomes three new national associations as members
For ease of comparison the Alliance for a Fairer Retirement System has created a document that simply compares Liberal and Labor's super and savings policies along with the projected cost of these policies to retirees, shareholders and super fund members from 2019-2027.
Take action against Labor's proposed franking credit policy: use our letter template
The Alliance has launched a website www.fairerretirement.com.au to cater to the growing demand from organisations and individuals who are seeking support, information and research to better understand the impact of the proposal. Announcing the launch of the Alliance website in Brisbane today is a team from the Alliance including spokesperson, Professor Deborah Ralston, Ian Henschke, Chief Advocate for National Seniors Australia, John Maroney, Chief Executive Officer of the Self Managed Superfund (SMSF) Association, Alan Marshall, President, Association of Independent Retirees and Michael Lorimer, Managing Director of SISFA.
Case study: business impacted by franking credit proposal
The Alliance for a Fairer Retirement System strongly opposes the proposed change to the tax treatment of franking credits and is looking to resist the introduction of this policy. If you are passionate about this issue we urge you to take action!
If you wish to have a say in relation to this matter and help us lobby against the proposed changes, please download our letter template and follow the instructions to send it to your local MP or Senator.
Objectives of the Alliance for a Fairer Retirement
Arthur Smith's case study explores how he has funded his business over the years based on the current franking credit framework and how his retirement savings would be adversely impacted should Labor’s franking credit proposal come into effect.
Research: likely impact of Labor's franking credit proposal
The ALP’s stated policy to remove the cash rebates on franking credits for those who pay no tax will impact directly on many retirees on modest incomes and is a disincentive to saving for retirement. It infringes on the principles held by the Alliance for a Fairer Retirement System of adequacy, sustainability, certainty and fairness. Read more…
New Alliance wants fairer retirement outcomes for all Australians
Rice Warner analysed the likely impact of Labor's proposed franking credit tax proposal should it be implemented. In particular, the research assessed the potential impact of this new tax on the Australian equity market. Continue reading to see the full report by Rice Warner…
Several associations have formed the “Alliance for a Fairer Retirement System” to explore options to fix problems with the existing superannuation taxation, Age Pension means testing and broader retirement income systems. The formation of the Alliance is in response to Labor’s proposal to disallow refunds of excess franking credits for a range of retirees and shareholders.