MEDIA RELEASE: Refundable franking credits report should prompt Opposition rethink
Have your voice heard - VIC House of Representatives Standing Committee on Economics Franking Credits Inquiries
A parliamentary committee recommendation not to remove refundable franking credits should prompt the Labor Party to revisit this proposal if it wins office after the next federal election, says the Alliance for a Fairer Retirement System.
The House of Representatives Standing Committee on Economics, which handed down its Report on the Inquiry into the Implications of Removing Refundable Franking Credits last week, also recommended that any proposal that could reduce Australian retirees’ income by up to one third “should only be considered as part of an equitable package for wholesale tax reform”.
Have your voice heard - WA & SA House of Representatives Standing Committee on Economics Franking Credits Inquiries
Individuals in Victoria will be able to have their voices heard in opposing the Labor Party’s proposed franking credit policy at the House of Representatives Standing Committee on Economics’ public hearings held in Malvern, Brighton, Mount Martha and Torquay in Victoria.
Have your voice heard - QLD & NSW dates announced for Economics Committee Franking Credits Inquiries
Individuals in SA and WA will be able to have their voices heard in opposing the Labor Party’s proposed franking credit policy at the House of Representatives Standing Committee on Economics’ public hearings held in Carlisle and Guildford, Western Australia, and Norwood, South Australia.
INTERVIEW: Gold Coast Retirees Claim Labor Tax Changes Will Leave Them Out Of Pocket
The discussion around the impact of banning franking credit refunds as proposed by the Labor Party continues in earnest into 2019.
We understand that many members of our community are looking for ways to make their voices heard in opposing this proposed policy. Accordingly, we would like to draw your attention to upcoming public hearings that the House of Representatives Standing Committee on Economics is holding for its inquiry into the implications of removing refundable franking credits.
MEDIA RELEASE: Labor’s franking credit refunds proposal fails public policy test
On 16 January 2019, Professor Deborah Ralston appeared on Channel 10’s Queensland network news, following the Gold Coast Retirees Investor Group meeting, discussing the ALP proposal to deny franking credit refunds.
MEDIA RELEASE: Fairer Retirement Summit highlights unfairness and poor design of proposed ALP franking credits refund policy
The Labor Party’s proposal to deny franking credit refunds fails the test of sound public policy on four grounds – adequacy, sustainability, certainty, and, most importantly, fairness.
Professor Deborah Ralston, chair of the Alliance for a Fairer Retirement System, in an address today to the Gold Coast Retirees organisation, highlighted how the proposal would severely dent the incomes of more than one million Australians, of whom the vast majority could not be described as “wealthy”.
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.
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.