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 --

6,313 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)
  • Kthryn Hogan
    signed 2019-08-11 08:45:08 +1000
  • Christine Kruger
    signed 2019-08-10 21:38:35 +1000
    We need a fairer tax system to build a truly democratic country and a better distribution of the nations wealth.
  • Andrew Aitken
    signed 2019-08-04 22:18:04 +1000
  • Les Burbury
    signed 2019-08-04 09:17:28 +1000
  • Peter Struys
    signed 2019-07-31 20:32:55 +1000
  • Kate Gerard
    signed 2019-07-31 13:20:42 +1000
  • Wayne Pollock
    signed 2019-07-24 22:56:35 +1000
  • Jane Hockin
    signed 2019-07-22 11:12:32 +1000
    I would be hit by this reform (self-funded retiree, no superannuation) but think the current system really unfair
  • Mitchell Jordan
    signed 2019-07-17 23:56:13 +1000
    This “superior government” has rocks for brains!
  • ivan olsen
    signed 2019-07-16 13:16:00 +1000
    Hope its not too late, computer been on the blink for months.
  • Ethan Briffa
    signed 2019-07-16 11:51:47 +1000
    Ethan Briifa
  • louise doran
    signed 2019-07-13 15:23:35 +1000
    The government wants us to believe there’ll be no cuts to infrastructure and services despite massive tax cuts to the wealthy-not possible. The poor and disadvantaged will suffer. This is intolerable in such a wealthy country.
  • Chris Ryan
    signed 2019-07-11 09:58:48 +1000
    Welfare for the wealthy, courtesy of the LNP Coalition, the parties that openly criticize welfare recipients. Poor economic outcome and unsound financial management by design, from the parties who continuously chant their homogenised rhetoric of “strong economy” and “sound financial management”. And not the only example of such culpable, mendacious behaviour;


    Combined with the increasing redistribution of public school and hospital funding to private interests, massive subsidies for multinational corporations, even billions of dollars in water access rights, we are seeing the greatest transfer of wealth from the many to the few since the collapse of the Land Boomers in the late 1800’s.


    The looting of Australia has been well underway for some time, only now they are brazen enough to do it openly and endemically.


    Can we save the Commonwealth of Australia? If anybody cares, yes.
  • Pat Ryan
    signed 2019-07-10 18:18:48 +1000
    The economy must be exceptionally bad if the wealthy are relying on tax lopholes to make ends meet. Whether they like it or not that puts them in the same category of welfare dependency as their fellow citizens whom they frequently decry as “leaners”.
  • David Ma
    signed 2019-07-09 08:35:21 +1000
  • Warren Thomas
    signed 2019-07-08 21:13:10 +1000
    Warren Owen Thomas
  • rebecca beeby
    signed 2019-07-08 11:42:42 +1000
    We, The People of Australia, have every right in a say and our say is what counts. You, The parliament, work for the people and therefore should act accordingly. I urge you to Repeal the income tax cuts. This is outrageous spending on the governments behalf and a vote of no confidence will take place if this issue isn’t resolved immediately.
  • Heath Loxton
    signed 2019-07-04 18:14:55 +1000
  • James Stopford
    signed 2019-07-02 18:28:35 +1000
  • Deborah Moran
    signed 2019-06-26 11:04:19 +1000
  • Claudia Ruiz
    signed 2019-06-24 08:03:31 +1000
  • Danny Flynn
    signed 2019-06-14 18:14:44 +1000
  • Christopher Courtelis
    signed 2019-06-14 11:24:02 +1000
  • Martin Cameron
    signed 2019-06-07 22:06:37 +1000
  • Debra Rowe
    signed 2019-06-03 16:23:42 +1000
  • Gretta Hayward
    signed 2019-06-03 02:02:29 +1000
  • Reuben Ross
    signed 2019-06-02 10:43:05 +1000
  • Cate Moss
    signed 2019-06-01 22:13:17 +1000
    8% of taxpayers received $95Bn in last 19 years and continuing, thanks to Howard/Abbott/Turnbull/Morrison, while the other 92% got nothing – and for not paying tax, which means they are not even taxpayers just tax money receivers. And Labor lost the 2019 election for trying to get revenue back into the taxpayers budget to improve spending on essential services that have been cut by Liberal. What a joke. Wake up Liberal voters – you’re not all in that 8%!
  • Hugh Cardle
    signed 2019-06-01 11:50:11 +1000