Originally posted by boomeronrations
Originally posted by JonnoH
There was so little difference between the gross figures without any changes and those that she produced[or at least the PBO produced] , that assumption seemed valid.
What figures did they produce without the changes?
The taxation departments records of the refund of franking credits in total ,a reasonable starting point. Certainly cant be higher than that.
I think , in fact, you or Pear might have quoted them as evidence of rape and pillage of the system in the very early days of this discussion.
Around 5 to 6 billion per year from memory, but I'm too lazy to look it up today.
There is one factor I have not taken into account though, it may be that the PBO has projected a marked increase in the number people on 0 tax rates, although I cant find any mention of it.[but I'm not that confident of my investigative ability at the moment] .In that case they may have[and this is a fantasy number, just for the exercise] projected 10 billion per year , say from the number of SMSF 's doubling, as being the leakage from revenue.
The difference between 5 and 10 Billion of course, is not new money to spend, just revenue you wouldn't have to find elsewhere.
Luckily I still have overwhelming confidence in my cognitive ability, and my ability to assess data and detail when I can get it.
Justified? As long as they keep giving me the tablets, I should be fine.
"it may be that the PBO has projected a marked increase in the number people on 0 tax rates"
I've mentioned it before but please refer to Chart B1: The effect of franking credits on superannuation earnings tax in
https://www.aph.gov.au/~/media/05 A...end imputation credit refunds - PDF.pdf?la=en
Imputed tax credit forfeiture is mainly a backdoor way of raising the effective tax rate of 0 tax rate pension funds. Highly inequitable but that's what it achieves.
