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Unintended consequences of Labor's Cash Grab, page-6

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JonnoH

12,970 Posts.

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17/12/18

14:15

Post #: 36882497
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Originally posted by Director12 ↑

"The intended consequence is that no refunds will be given to anyone who doesn't pay any tax."

Umm, franking credits are for TAX that was paid on behalf of the shareholders. I think what you mean is that they did not make enough money to go over the 18K income limit...in which case they need to get the tax back that they paid on the shares. Labour STEALING from the poor.

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Not paid on behalf of shareholders at all. They are two different tax paying entities and the franking credit system was purely designed so that tax wasn't paid twice on the same income.

Non taxpayers stealing from the taxpayers more like it.
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