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 --

6,248 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)
  • Danny Flynn
    signed 2019-06-14 18:14:44 +1000
  • Christopher Courtelis
    signed 2019-06-14 11:24:02 +1000
  • Martin Cameron
    signed 2019-06-07 22:06:37 +1000
  • Debra Rowe
    signed 2019-06-03 16:23:42 +1000
  • Gretta Hayward
    signed 2019-06-03 02:02:29 +1000
  • Reuben Ross
    signed 2019-06-02 10:43:05 +1000
  • Cate Moss
    signed 2019-06-01 22:13:17 +1000
    8% of taxpayers received $95Bn in last 19 years and continuing, thanks to Howard/Abbott/Turnbull/Morrison, while the other 92% got nothing – and for not paying tax, which means they are not even taxpayers just tax money receivers. And Labor lost the 2019 election for trying to get revenue back into the taxpayers budget to improve spending on essential services that have been cut by Liberal. What a joke. Wake up Liberal voters – you’re not all in that 8%!
  • Hugh Cardle
    signed 2019-06-01 11:50:11 +1000
  • Robert Henricks
    signed 2019-05-31 16:56:01 +1000
  • Mark Stone
    signed 2019-05-31 13:46:14 +1000
  • Kim Veale
    signed 2019-05-31 13:14:00 +1000
  • Sam Dixon
    signed 2019-05-30 21:04:49 +1000
  • Lisa Delaney
    signed 2019-05-29 18:53:51 +1000
  • Nicole Somi
    signed 2019-05-29 08:47:20 +1000
  • Shane Vincent
    signed 2019-05-29 00:03:21 +1000
  • Ronald Creed
    signed 2019-05-28 22:48:49 +1000
  • Sean Bell
    signed 2019-05-28 20:17:56 +1000
  • Kane Nelson
    signed 2019-05-28 14:16:26 +1000
  • Ethan Hanson
    signed 2019-05-28 12:45:36 +1000
  • Ian Millar
    signed 2019-05-28 09:54:53 +1000
  • Tony Suttor
    signed 2019-05-27 23:21:36 +1000
  • Hugo Walker
    signed 2019-05-27 22:41:14 +1000
  • sarah grant
    signed 2019-05-27 22:23:45 +1000
    We call upon the Australian Parliament to abolish the practice of providing cash refunds for unused franking credits to people who pay zero tax.
  • callum hussey
    signed 2019-05-27 19:58:07 +1000
  • June Smith
    signed 2019-05-27 19:22:29 +1000
  • Sam Blake
    signed 2019-05-27 16:24:30 +1000
  • richard smart
    signed 2019-05-27 15:16:45 +1000
  • Peter Hicks
    signed 2019-05-27 10:12:53 +1000
  • Danielle Archer
    signed 2019-05-27 09:14:56 +1000
    As a tax payer, I’m happy to support vulnerable Australians and I want my taxes to go towards social services, public education and public health. As an average income earner, why am I doing the heavy lifting? Why are millionaires receiving hand outs and paying less tax than I do?