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 --

6,325 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)
  • Tim Cornwall
    signed 2019-03-25 16:49:58 +1100
  • Philip Piggin
    signed 2019-03-24 23:08:20 +1100
  • Hayden Champion
    signed 2019-03-23 22:32:24 +1100
  • Meredith Hinchliffe
    signed 2019-03-23 18:19:30 +1100
  • Maureen Clifton
    signed 2019-03-23 16:44:00 +1100
  • Fern Hunter
    signed 2019-03-23 06:31:02 +1100
    Fern Hunter
  • Jo Bolam
    signed 2019-03-22 19:57:20 +1100
    Jo Bolam
  • Declan Jones
    signed 2019-03-22 10:18:32 +1100
    Declan Jones
  • Joseph Haddon
    signed 2019-03-21 16:14:06 +1100
  • bob webster
    signed 2019-03-19 18:38:26 +1100
  • Helen Willis-Smith
    signed 2019-03-19 17:32:22 +1100
    Helen Willis-Smith
  • Terence Moore
    signed 2019-03-19 11:51:17 +1100
  • Tom Caunce
    signed 2019-03-19 04:56:44 +1100
  • Lise Blackgrove
    signed 2019-03-18 19:30:07 +1100
    Thank you for presenting this issue in such a stark and true way. I am astounded that it has gone on for so long and it must change.
  • Kim Tan
    signed 2019-03-16 22:18:33 +1100
  • Marion Jones
    signed 2019-03-16 21:22:12 +1100
    Marion Jones
  • James Vellios
    signed 2019-03-16 19:09:44 +1100
  • Jo McEwan
    signed 2019-03-16 15:41:09 +1100
  • Sankar Chatterjee
    signed 2019-03-16 13:35:17 +1100
  • Auriel Barlow
    signed 2019-03-16 12:40:30 +1100
  • Kevin Brett
    signed 2019-03-16 10:14:14 +1100
  • Kathy Onstenk
    signed 2019-03-15 22:33:44 +1100
    KATHY ONSTENK
  • Thomas Christou
    signed 2019-03-15 20:44:23 +1100
  • Elizabeth Kentwell
    signed 2019-03-15 18:44:28 +1100
  • John Kelly
    signed 2019-03-15 18:28:34 +1100
  • Karla Ries
    signed 2019-03-15 17:57:21 +1100
    End franking credits now, then make big business pay their fair share of taxes and finally go after the huge profit making big religious organisations. Australia will be rich enough to eradicate poverty!
  • John Davenport
    signed 2019-03-15 17:13:18 +1100
  • Sean Bowler
    signed 2019-03-15 16:12:04 +1100
  • Peter Manger
    signed 2019-03-15 13:54:13 +1100