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Proposal to abolish refundability of Franking Credits, page-345

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baxtermcfaxter

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13/12/18

16:14

Post #: 36850254
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Originally posted by ChippyDude: ↑

All they should do is just put a cap on it of 5 grand or so, that way all the small time people just keeping their head above water get it upto 5k.

So then it stops those claiming back 2 million worth per year in cash back.

Also the neg gearing, sould be capped as about a 20k deduction per year max total, regardless if you have 1 property or 10.

Also the Super contribution rate shouldnt be a flat 15% it should be taxed on a sliding scale like the tax rate minus 10%

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Yep...I agree with what you are saying....there should be caps ...
Probably $15,000 on both NG and Franked Credits.....One day you may get beyond your $5,000 so you need an incentive to get higher and I hope you do
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