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Proposal to abolish refundability of Franking Credits, page-432

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picastoc

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29/01/19

20:22

Post #: 37256455
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Originally posted by occam ↑

Originally posted by picastoc
Do you want a picture of me as well? Lots of oldies pay tax. To be frank, I don't think it wrong that I pay tax. That's due to the fact that my ongoing healthy disregard for governments to stop fiddling with superannuation meant I keep the majority of my funds in my own name. Hence I pay tax. And medicare levy. And private health insurance. I have paid for a lifetime of bandages and continue to do so. I don't resent paying reasonable taxation. I do resent the fact that governments can't lie straight in bed and it is they who overspent the budget. Principal and principle are two different things. You have outed yourself in your post as a "youngie" who is a little spelling challenged, huh? lol Sorry, don't wish to offend. I quite like youngies (ex-teacher here). Economics was my subject.
question for you Picastoc and others if they know. If you moved the right amount of money out of a self managed super fund and into your own name , and you own Australian shares that give franking credits. Could you use the franking credits to reduce any tax liability ? My understanding is that you could reduce you tax liability to zero but get no refund. Is this correct ?

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Doubt it! But you need an accountant to answer that question, but I really doubt you can play games like that.
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