Close Unfair Tax Loopholes: End cash refunds for franking credits

The complexity of the Australian tax system hides many loopholes, one of the most unfair is the fact that some of Australia’s wealthiest citizens pay negative tax. The tax office actually pays money to people who have paid no tax themselves, and these people are some of the wealthiest in the country. 

It's time this perverse tax loophole was closed.

Only by closing unfair tax loopholes can Australia implement progressive reforms like strengthening the social safety net, building social housing, investing in schools and universities, addressing climate change and improving health care.

 

We, the undersigned--

Call upon the Australian Parliament to guarantee that the tax system treats all Australians fairly and raises the revenue our community needs to fund vital services. Low income workers should not pay more tax than millionaires.

We call upon the Australian Parliament to abolish the practice of providing cash refunds for unused franking credits to people who pay zero tax, introduced by the Howard Government in 2000.

The policy mainly benefits the most wealthy of Australians and no other country does this. Currently, the Federal Government spends more on refunding franking credits than it does on funding public schools.

It's time to end this tax bonus for those who pay no tax.

ADD YOUR NAME --

6,359 SIGNATURES
7,500 signatures

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The Australia Institute research:

  1. Australia is a low taxing country
  2. Australia is the only country in the world to refund excess franking credits to people who do not pay tax (2015, 2018)
  • Kimber Stowe
    signed 2020-08-27 19:15:17 +1000
  • Brendan McCusker
    signed 2020-07-30 14:58:16 +1000
  • Sarinda Singh
    signed 2020-07-28 14:25:32 +1000
  • Tim
    signed 2020-07-22 01:36:12 +1000
  • Patrick Weyland-Smith
    signed 2020-07-01 10:57:10 +1000
  • Elizabeth Stewart
    signed 2020-06-29 18:08:32 +1000
  • Jane House
    signed 2020-06-24 10:28:42 +1000
  • Laura Purcell
    signed 2020-06-20 13:57:23 +1000
  • Jean John
    signed 2020-06-20 09:44:22 +1000
  • Penelope forlano
    signed 2020-06-18 15:12:09 +1000
  • Kevin Hill
    signed 2020-06-06 16:58:15 +1000
  • Andrew Cerini
    signed 2020-05-28 16:48:50 +1000
  • Noelene Hall
    signed 2020-04-29 11:38:42 +1000
  • Lisa Corsi
    signed 2020-04-09 17:09:05 +1000
  • Andrew Boocock
    signed 2020-04-05 14:46:16 +1000
  • Mark Wallace
    signed 2020-04-04 18:59:09 +1100
  • Brendan Martin
    signed 2020-04-04 16:32:48 +1100
  • Sandra Englart
    signed 2020-04-04 11:35:54 +1100
    This tax loophole is unsustainable and must be abolished
  • Peter Sage
    signed 2020-03-24 15:30:49 +1100
  • philip sumner
    signed 2020-03-13 16:13:23 +1100
  • Anne Rey
    signed 2020-02-28 09:01:28 +1100
  • David Smith
    signed 2020-01-28 12:55:05 +1100
  • Trevor May
    signed 2020-01-19 21:27:42 +1100
  • Chloe Blake
    signed 2020-01-18 15:31:29 +1100
  • Terry King
    signed 2020-01-13 14:51:35 +1100
  • Cosetta Cavazza
    signed 2020-01-09 03:45:41 +1100
  • Josh Reimers
    signed 2020-01-03 17:20:27 +1100
  • Jennifer Burden
    signed 2020-01-03 15:59:15 +1100