Pretty much a tax grab taxing low income earners at 30% because they dared to invest. This is all hidden under the labor mantra of taxing the rich, when it isn’t. This policy doesn’t effect me or my family one bit, the only difference is the SMSF which we consume the franking credits via contributions. Dumb policy. Once we reach preservation age I’ll be sure to offload the majority of my Australian holdings and go international equities and unfranked just so labor gets nothing mor from us.
Meanwhile my personal name and company names use the franking credits and always will consume them.
re buy back... no thanks. WPL needs the cash. We already had a large rights issue in the $27 range. The franking credits still have value for most. Unions and not for profits also still get refunds. The unions hold $100s of millions in shares, billions for universities and charities. All still get the refunds.
