Alliance for a Fairer Retirement System

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MEDIA RELEASE: Labor’s refundable franking credits proposal impacts more lower income-earners than the wealthy – refunds of company paid tax are not a “gift”!

Labor has released its election costings that show its spending promises will largely be funded by cuts to the incomes of retirees and other lower income shareholders to the value of $58 billion over the next decade.

“The Labor Party’s refundable franking credits proposal does not target the wealthy,” says Professor Deborah Ralston, a spokesperson for the Alliance for a Fairer Retirement System. “The vast majority of individuals affected, who receive a refund of less than $5,000 a year, would not be considered wealthy by most Australians.”

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MEDIA RELEASE: Refundable franking credits report should prompt Opposition rethink

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”.

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Marketingmedia release
MEDIA RELEASE: Fairer Retirement Summit highlights unfairness and poor design of proposed ALP franking credits refund policy

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.

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Josh Geersmedia release
Alliance backs franking credits inquiry

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.

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Josh Geersmedia release
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

The Alliance has launched a website 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.

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New Alliance wants fairer retirement outcomes for all Australians

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.

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