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

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)
  • Merilee Mann
    signed 2019-02-23 08:40:53 +1100
  • Tony Phipps
    signed 2019-02-23 08:40:39 +1100
  • Pia Larsen
    signed 2019-02-23 08:40:38 +1100
  • michael manuell
    signed 2019-02-23 08:40:31 +1100
    Great great work AI!
  • Tess Dingle
    signed 2019-02-23 08:40:18 +1100
    I don’t expect the LNP will ever change their protection of the ultra-rich, but come on Labor – make good on your threats and govern for the people. We will be counting on you in 2019 – and there’s more of us than them.
  • David Hermolin
    signed 2019-02-23 08:40:00 +1100
  • John Wyatt
    signed 2019-02-23 08:39:41 +1100
  • John Head
    signed 2019-02-23 08:39:38 +1100
    I am one of the people who benefit from this rebate and I think that it is appalling that I do. This is not a fair use of taxes.
  • Nancy Brunton
    signed 2019-02-23 08:39:37 +1100
  • Caroline Clark
    signed 2019-02-23 08:39:00 +1100
  • Nick Browning
    signed 2019-02-23 08:39:00 +1100
  • Russell Henry
    signed 2019-02-23 08:38:57 +1100
  • Ashleigh Mcginn
    @AshaClifton tweeted link to this page. 2019-02-23 08:38:55 +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=239634
  • Harry Knowles
    signed 2019-02-23 08:38:31 +1100
  • Ashleigh Mcginn
    signed 2019-02-23 08:38:24 +1100
  • Lloyd Templeton
    signed 2019-02-23 08:38:02 +1100
  • Florence Dawson
    signed 2019-02-23 08:37:58 +1100
  • John Kellett
    signed 2019-02-23 08:37:58 +1100
  • Nora Liston
    signed 2019-02-23 08:37:52 +1100
  • Colin Chesterman
    signed 2019-02-23 08:37:45 +1100
  • Mark Dixon
    @markwdixon tweeted link to this page. 2019-02-23 08:37:24 +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=176910
  • John Harwood
    signed 2019-02-23 08:37:18 +1100
  • Megan Rowsell
    signed 2019-02-23 08:37:10 +1100
    Fair go, spread the wealth around… Or is it a “lucky country” only for some of us?
  • Tracey Esler
    signed 2019-02-23 08:37:02 +1100
  • Penelope Ralph
    signed 2019-02-23 08:37:02 +1100
  • Mark Dixon
    signed 2019-02-23 08:37:01 +1100
  • Sharon Lawson
    signed 2019-02-23 08:36:53 +1100
    Sharon Lawson
  • Jack Ruffin
    signed 2019-02-23 08:36:52 +1100
    Nor should we not allow big companies to pay no tax.
  • Paul McLisky
    signed 2019-02-23 08:36:42 +1100
  • Judy Mitchell
    signed 2019-02-23 08:36:35 +1100