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)
  • Neville Hunter
    signed 2019-02-23 08:36:33 +1100
  • Barry Coley
    signed 2019-02-23 08:36:21 +1100
    The case is very clear.
  • Jennifer Gregory
    signed 2019-02-23 08:36:07 +1100
    Jennifer Gregory
  • Wilma Andrews
    signed 2019-02-23 08:36:02 +1100
    The current generation of retired Australians have been extremely lucky their entire lives. They’ve had access to free higher education, no problems getting jobs, easy no questions asked about getting welfare when Cenrelink came into being in the 70’s and living in a very lucky period of Australian history. It’s time these wealthy Australians quit thinking about themselves and began thinking about the good of the future generations by stopping this practice of receiving franking credits, when they are not paying any tax.
  • Christine Carlisle
    signed 2019-02-23 08:36:01 +1100
  • Dianne Montague
    signed 2019-02-23 08:35:43 +1100
  • Kevin Thomas
    signed 2019-02-23 08:35:29 +1100
  • Roger Parkes
    signed 2019-02-23 08:35:15 +1100
    the advertisement that appeared in todays "Saturday"paper was clever and extremely well executed. Full marks to your advertising agency
  • Gary Fallon
    signed 2019-02-23 08:35:12 +1100
  • Benjamin Bavinton
    signed 2019-02-23 08:35:06 +1100
  • Matthew Cox
    signed 2019-02-23 08:34:56 +1100
  • Elizabeth O'Hara
    signed 2019-02-23 08:34:30 +1100
  • Felicity Jack
    signed 2019-02-23 08:34:22 +1100
  • Roy Hall
    signed 2019-02-23 08:34:19 +1100
    Roy Hall
  • Clark McConachy
    signed 2019-02-23 08:34:12 +1100
  • Benjamin Lakos
    signed 2019-02-23 08:34:08 +1100
  • Lou Pollard
    signed 2019-02-23 08:34:07 +1100
  • Lawrence Roberts
    @Lotto2012 tweeted link to this page. 2019-02-23 08:34:02 +1100
    Sign the open letter: Close Unfair Tax Loopholes--End cash refunds for franking credits https://nb.tai.org.au/close_tax_loopholes?recruiter_id=193489
  • Maureen Brown
    signed 2019-02-23 08:33:55 +1100
    Maureen Brown
  • captain acab
    signed 2019-02-23 08:33:43 +1100
  • Michele Stephens
    signed 2019-02-23 08:33:32 +1100
  • Terry Hemmings
    signed 2019-02-23 08:33:26 +1100
    Terry Hemmings
  • Lawrence Roberts
    signed 2019-02-23 08:33:10 +1100
    High Time. What is the problem with the M.S.M. except that they are right wing rags?
  • Peter Williams
    signed 2019-02-23 08:33:05 +1100
  • Christopher Howard
    signed 2019-02-23 08:32:54 +1100
  • Stephen Beeby
    signed 2019-02-23 08:32:09 +1100
  • Josie McSkimming
    signed 2019-02-23 08:31:57 +1100
  • Dale Curtis
    signed 2019-02-23 08:31:42 +1100
  • Howard Leslie
    signed 2019-02-23 08:31:11 +1100
  • Jennifer Armstrong
    signed 2019-02-23 08:30:47 +1100