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 --

6,343 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)
  • Kylie Jacques
    signed 2019-02-23 07:58:22 +1100
  • David Quinn
    signed 2019-02-23 07:58:17 +1100
  • Rob Rimmer
    @SavLance75 tweeted link to this page. 2019-02-23 07:58:01 +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=193159
  • Penleigh Boyd
    signed 2019-02-23 07:58:00 +1100
    Tax is the price for a civilised society. Pay up happily.
  • Robert Rimmer
    signed 2019-02-23 07:57:43 +1100
  • Kerry Gatliff
    signed 2019-02-23 07:57:41 +1100
  • janet thompson
    signed 2019-02-23 07:57:31 +1100
  • Aaron Knoblock
    signed 2019-02-23 07:57:28 +1100
    Aaron knoblock
  • Richard Nielsen
    signed 2019-02-23 07:57:06 +1100
  • Geoff Bentley
    signed 2019-02-23 07:57:01 +1100
  • David Burnett
    signed 2019-02-23 07:56:40 +1100
  • Matthew Withers
    signed 2019-02-23 07:56:14 +1100
  • Bob Lee
    signed 2019-02-23 07:56:05 +1100
  • Denise Taylor
    signed 2019-02-23 07:55:49 +1100
  • Alasdair Sinclair
    signed 2019-02-23 07:55:44 +1100
  • Sally Kingsland
    signed 2019-02-23 07:55:34 +1100
  • Craig Sinclair
    signed 2019-02-23 07:55:30 +1100
  • Deborah Wilson
    signed 2019-02-23 07:55:25 +1100
    Deborah Wilson
  • Merril Hammer
    signed 2019-02-23 07:55:18 +1100
    I am an expat, but with my family living in Australia. Like other western countries, it seems that my home country is determined to favour the favoured at the expense of the poor. This is just unacceptable.
  • Haydn Burgess
    signed 2019-02-23 07:55:12 +1100
  • John Talent
    signed 2019-02-23 07:55:07 +1100
  • greg wilson
    signed 2019-02-23 07:54:44 +1100
    greg wilson, I recieve some of these but its an unfair benifit, I am happy to lose.
  • Robyn Thomas
    signed 2019-02-23 07:54:41 +1100
    Most interested in this. Have read your previous papers. Thank you.
  • Mark Gould
    signed 2019-02-23 07:54:34 +1100
  • Yvonne Wedgwood
    signed 2019-02-23 07:54:31 +1100
    Yvonne WEDGWOOD
  • sunny symons
    signed 2019-02-23 07:54:28 +1100
    sunirmalya symons
  • Jack Pezzey
    signed 2019-02-23 07:54:27 +1100
  • Alison Gerrard
    signed 2019-02-23 07:54:27 +1100
  • Ed Bennett
    signed 2019-02-23 07:53:43 +1100
    Ed C Bennett
  • Zoe Dobson
    signed 2019-02-23 07:53:24 +1100