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

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)
  • Kerrie Nelson
    signed 2019-02-23 08:26:51 +1100
  • Bronwyn Nelson
    signed 2019-02-23 08:26:50 +1100
  • Peter Stark
    signed 2019-02-23 08:26:32 +1100
  • Steve Blume
    signed 2019-02-23 08:26:31 +1100
  • John Carpenter
    signed 2019-02-23 08:26:30 +1100
  • Bronwyn Davis
    signed 2019-02-23 08:26:28 +1100
  • Susan Leith-Miller
    signed 2019-02-23 08:26:25 +1100
  • Adele van Rosmalen
    signed 2019-02-23 08:26:23 +1100
  • David Campin
    signed 2019-02-23 08:26:12 +1100
    I am a retiree and see this loophole as a complete ripoff and diversion of funds from real needs such as the homeless, the abused, the disabled and the defenceless.
  • David Ball
    signed 2019-02-23 08:26:03 +1100
    I support the idea of equality and redistribution in our tax system and within society as a general principle.
  • Laura Cooke
    signed 2019-02-23 08:25:46 +1100
  • Gail Loader
    signed 2019-02-23 08:25:14 +1100
  • Marian Kelly
    signed 2019-02-23 08:25:11 +1100
  • Wayne Kosh
    signed 2019-02-23 08:25:08 +1100
    Wayne Kosh
  • Shannon Best
    signed 2019-02-23 08:25:02 +1100
    I choose public services
  • Ron Bowden
    signed 2019-02-23 08:24:55 +1100
  • Bernard Moylan
    signed 2019-02-23 08:24:35 +1100
  • Christopher Holmes
    signed 2019-02-23 08:24:23 +1100
  • Graham McLaine
    signed 2019-02-23 08:24:00 +1100
    That, along with Industry welfare, which is rarely discussed,by the mainstream press, really rankles
  • Christine Miller
    signed 2019-02-23 08:23:55 +1100
  • Pam Simmons
    signed 2019-02-23 08:23:55 +1100
  • Ann Wessing
    signed 2019-02-23 08:23:53 +1100
    Ann Wessing
  • Rob Gray OAM
    signed 2019-02-23 08:23:42 +1100
  • Nicholas Greenwood
    signed 2019-02-23 08:23:34 +1100
  • Les Macdonald
    signed 2019-02-23 08:23:15 +1100
  • Jan Wild
    signed 2019-02-23 08:23:10 +1100
    We benefit from the existing structure but it is not equitable and we do not support its continuation
  • Jim Stanford
    signed 2019-02-23 08:23:07 +1100
    Jim Stanford
  • Graham Levy
    signed 2019-02-23 08:23:06 +1100
  • Richard Lea
    signed 2019-02-23 08:22:48 +1100
  • John Haddock
    signed 2019-02-23 08:22:40 +1100
    John Haddock