It is beyond dispute that Bill Shorten is correct when he states that a cash refund of franking credits on investments should be claimed only by a taxpayer.
What is in dispute is the timing and manner in which he intends to legislate changes to current taxation laws on those credits.
His planned legislation must be changed to exempt all shares purchased prior to 30 June, 2019. This will give retirees the same privileges that he has stated that he will grant to those affected by his changes to taxation benefits relating to negative gearing and capital gains.
To deny this, will mean that he will be declaring that property developers are more worthy citizens than retirees and deserve privileges that are to be denied to retirees. Continue reading “FULLY FRANKED MUST BE FRANK AND FAIR”