Most of the submissions I have been reading on the Franking Credit inquiry overall state that if they are to be subjected to a tax grab then it should not be discriminatory and suggest a franking CAP ..some say $15,000 whatever...The more intelligent posters here have been indicating the same ....
The cap would alleviate the burden on middle income earners ( SMSF or not ) , pensioners and lower income families would not be affected.
No discriminatory grandfathering and date timelines ....
For the benefit of OUR Country I am willing to take a hit but I protest about being put on a rack and demonised as a rorter (I obey the tax laws)
Here is the site
https://www.aph.gov.au/Parliamentary_Business/Committees/House/Economics/FrankingCredits
