Labor also highlights the increasing drain on the budget of the franking credit refunds. That ignores the increasing number of self-funders in the sharemarket and that the credits should not be counted as revenue in the first place until reconciled. If shareholders can switch to unfranked dividends, or some other means to avoid this crazy policy, then the “budget savings” will disappear. Unfortunately, it will already be added up, forecast, and spent.
Labor and tls, page-7
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