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 --

6,291 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)
  • Rob Moon
    signed 2019-03-13 17:56:21 +1100
  • Mark Beckett
    signed 2019-03-13 17:47:03 +1100
  • Valerue Clews
    signed 2019-03-13 16:22:14 +1100
  • Jacqueline Deacon
    signed 2019-03-13 15:27:40 +1100
  • Janet Lee
    signed 2019-03-13 14:57:59 +1100
  • Marie Flood
    signed 2019-03-13 14:37:49 +1100
    Marie Flood
  • Steven James
    signed 2019-03-13 14:17:25 +1100
  • Patricia Pears
    signed 2019-03-13 14:11:14 +1100
    Thank you Kristina !! About time spoke up about funding the ABC & SBS. Totally in favour, can’t do with out them..


    Patricia Pears
  • Dartell Campbell
    signed 2019-03-13 13:29:47 +1100
  • Elizabeth Dangerfield
    signed 2019-03-13 13:12:07 +1100
    Some of us may have benefied from this but now it is time to give up what is essential a free handout to the better off
  • Christopher Croese
    signed 2019-03-13 13:04:31 +1100
    Christopher Croese
  • Lloyf Hawkins
    signed 2019-03-13 12:50:26 +1100
  • Ian Bingham
    signed 2019-03-13 12:49:58 +1100
  • Sarah Cox
    signed 2019-03-13 12:06:22 +1100
  • Julie Thomas
    signed 2019-03-13 11:59:38 +1100
  • jose sampedro
    signed 2019-03-13 11:57:55 +1100
  • Debbie Phillips
    signed 2019-03-13 11:53:48 +1100
  • Donna Filson
    signed 2019-03-13 11:49:51 +1100
  • Marilyn Raven
    signed 2019-03-13 11:43:45 +1100
  • Susan Mutimer
    signed 2019-03-13 11:31:48 +1100
  • Bernadette Reeders
    signed 2019-03-13 11:27:53 +1100
    Bernadette Reeders
  • Lynette Williams
    signed 2019-03-13 11:23:04 +1100
  • Deidre Okulicz
    signed 2019-03-13 11:21:56 +1100
  • Matthew Bird
    signed 2019-03-13 11:16:29 +1100
  • Anna Wylie
    signed 2019-03-13 08:12:53 +1100
    Thanks to ‘Follow the Money’ I now know about this monstrous abuse of tax revenue.
  • Mal Anderson
    signed 2019-03-13 07:40:43 +1100
  • Helen Crowley
    signed 2019-03-13 00:40:24 +1100
    Ridiculous waste of money.