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 --

6,315 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)
  • Greg Dwyer
    signed 2019-11-21 19:57:19 +1100
  • Trevor Naughton
    signed 2019-11-14 16:50:26 +1100
    Why cannot others see that this is inequitable.
  • Louis Linard
    signed 2019-11-08 16:59:22 +1100
  • Alyson Fletcher
    signed 2019-11-06 15:48:43 +1100
  • Jeremy Snell
    signed 2019-11-04 22:11:28 +1100
  • Ron Brisby
    signed 2019-10-29 08:43:22 +1100
  • Iris Bysouth
    signed 2019-10-28 16:01:20 +1100
  • Thomas Hutchinson
    signed 2019-10-27 10:47:31 +1100
  • Stuart Hills
    signed 2019-10-23 17:12:27 +1100
  • Dylan Tanner
    signed 2019-10-19 20:33:36 +1100
  • Jean Thomson
    signed 2019-10-12 10:24:41 +1100
  • Trevor Muller
    signed 2019-10-10 09:06:37 +1100
  • Ellen White
    signed 2019-10-08 07:27:12 +1100
  • Genevieve Wilson
    signed 2019-10-06 18:35:29 +1100
  • Roy Jackson
    signed 2019-10-05 07:28:42 +1000
  • Rod Schoneveld
    signed 2019-10-03 14:15:15 +1000
  • Bill Clarke Clarke
    signed 2019-10-03 11:37:45 +1000
  • Matthew Lloyd
    signed 2019-10-02 22:23:44 +1000
  • Dean Rose
    signed 2019-09-29 14:48:10 +1000
  • Mark scarborough
    signed 2019-09-28 18:45:24 +1000
    give them hell hey
  • Viktor Ko
    signed 2019-09-28 14:41:07 +1000
    Please continue keeping up the good work.
  • Tom Smallman
    signed 2019-09-27 09:39:30 +1000
  • Alison Clarke
    signed 2019-09-22 08:29:35 +1000
  • sue salthouse
    signed 2019-09-18 20:18:24 +1000
    sue salthouse
  • John Thomson
    signed 2019-09-12 18:07:01 +1000
  • Josh Higgins
    signed 2019-09-12 16:21:06 +1000
  • Thomas Driftwood
    signed 2019-09-12 13:36:56 +1000
  • Kelvin Taylor
    signed 2019-08-29 13:58:51 +1000