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)
  • Craig Burgess
    signed 2019-02-23 08:06:51 +1100
    Keep on attacking middle class welfare introduced by the profligate Howard government
  • Brett Goyne
    signed 2019-02-23 08:06:46 +1100
  • Marian Mackenzie
    signed 2019-02-23 08:06:45 +1100
  • Anne Taylor
    signed 2019-02-23 08:06:25 +1100
    In spite of the fact that I still pay some tax and my super is not huge, I support the removal of this unfair benefit. Howard and Costello should never have introduced it in the first place.
  • Chris Hyman
    signed 2019-02-23 08:06:19 +1100
  • Anara Carroll
    signed 2019-02-23 08:06:07 +1100
  • Liza Geddes
    signed 2019-02-23 08:05:09 +1100
  • Andrew Dix
    signed 2019-02-23 08:04:49 +1100
  • Rod Farrow
    signed 2019-02-23 08:04:44 +1100
  • Sean McCarthy
    signed 2019-02-23 08:04:30 +1100
  • Jooles Whittle
    signed 2019-02-23 08:03:53 +1100
    Jooles Whittle
  • Sarah Cleggett
    signed 2019-02-23 08:03:50 +1100
    Let’s increase new start with the money saved by ending this outdated practice.
  • John King
    signed 2019-02-23 08:03:43 +1100
  • Barry Mcdonald
    signed 2019-02-23 08:03:38 +1100
  • Will Jones
    signed 2019-02-23 08:03:18 +1100
    On the personal level I can imagine this could be perceived as an ‘unfair’ change in the tax rules; however, at a macro level it is clear the system has to be changed to make it actually fair for all Australians – this is simply righting yet another Howard government wrong
  • Peter Hunter
    signed 2019-02-23 08:03:11 +1100
  • Daniel Webster
    signed 2019-02-23 08:03:10 +1100
  • Kurt Liffman
    signed 2019-02-23 08:03:01 +1100
  • Jane May
    signed 2019-02-23 08:03:00 +1100
    Now is the time for legislative change. Money that should be spent on public services.
  • Maryke Reis
    signed 2019-02-23 08:02:55 +1100
  • Ronald Jelleff
    signed 2019-02-23 08:02:40 +1100
  • Lualhati Hopkins
    signed 2019-02-23 08:02:33 +1100
  • Norman sage
    signed 2019-02-23 08:02:23 +1100
  • Kevin Stokes
    signed 2019-02-23 08:02:08 +1100
  • Jeannette Martin
    signed 2019-02-23 08:01:59 +1100
  • Glenn Albrecht
    signed 2019-02-23 08:01:55 +1100
    Glenn Albrecht
  • Michael Myer
    @myer051 tweeted link to this page. 2019-02-23 08:01:39 +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=168608
  • Cecily Cronin
    signed 2019-02-23 08:01:28 +1100
  • Elaine Sherwood
    signed 2019-02-23 08:01:27 +1100
  • John Hyde
    signed 2019-02-23 08:01:04 +1100
    John Hyde