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 --

6,302 SIGNATURES
7,500 signatures

Will you sign?

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)
  • 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
  • Jonathon 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
  • Lachlann Whitehill
    signed 2019-08-15 07:26:59 +1000
  • Bin Chaplin
    signed 2019-08-11 16:32:25 +1000
  • Kthryn Hogan
    signed 2019-08-11 08:45:08 +1000
  • Christine Kruger
    signed 2019-08-10 21:38:35 +1000
    We need a fairer tax system to build a truly democratic country and a better distribution of the nations wealth.
  • Andrew Aitken
    signed 2019-08-04 22:18:04 +1000
  • Les Burbury
    signed 2019-08-04 09:17:28 +1000
  • Peter Struys
    signed 2019-07-31 20:32:55 +1000
  • Kate Gerard
    signed 2019-07-31 13:20:42 +1000
  • Wayne Pollock
    signed 2019-07-24 22:56:35 +1000
  • Jane Hockin
    signed 2019-07-22 11:12:32 +1000
    I would be hit by this reform (self-funded retiree, no superannuation) but think the current system really unfair
  • Mitchell Jordan
    signed 2019-07-17 23:56:13 +1000
    This “superior government” has rocks for brains!
  • ivan olsen
    signed 2019-07-16 13:16:00 +1000
    Hope its not too late, computer been on the blink for months.