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

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)
  • blake chant
    signed 2019-05-24 15:37:58 +1000
  • leigh milne
    signed 2019-05-24 15:34:46 +1000
  • Michael Nassar
    signed 2019-05-24 15:22:00 +1000
  • Nick Martin
    signed 2019-05-24 15:19:14 +1000
  • Tanya Fagg
    signed 2019-05-24 15:12:36 +1000
  • Jessica Blowers
    signed 2019-05-24 15:10:39 +1000
    Even the polling data showed that those who would benefit from the refunds of franking credits, could see the benefits of redistribution of that wealth. Charity doesn’t exist in Germany, because the govt uses the taxes it collects appropriately. You lot should try it some time!
  • john bisiker
    signed 2019-05-24 15:06:08 +1000
    Not a fare policy when us aged pensioners get “LESS” than these wealthy people get, no one deserves more or less than the aged pension.
  • Matthew Mulhall
    signed 2019-05-24 07:21:49 +1000
  • Anthony Bruzzese
    signed 2019-05-24 06:49:51 +1000
    Will Australia ever realise that a ongoing Bipartisan approach to tax reform and other parliamentary issues will improve Australia for all?
  • Adam Byrne
    signed 2019-05-24 06:33:39 +1000
  • Katie Osborne-Crowley
    signed 2019-05-24 01:31:56 +1000
  • Patrick Nguyen
    signed 2019-05-23 21:48:29 +1000
    Keep up the good work!
  • James Hough
    signed 2019-05-23 19:29:31 +1000
  • Campbell McLennan
    signed 2019-05-23 14:58:47 +1000
    Campbell McLennan
  • Ryan Saunderson
    signed 2019-05-23 14:33:51 +1000
  • Jackson Cass
    signed 2019-05-23 13:10:50 +1000
  • Matthew Wills
    signed 2019-05-23 11:09:07 +1000
  • Dee Pabst
    signed 2019-05-23 07:31:28 +1000
  • Lita Santos
    signed 2019-05-22 21:20:45 +1000
    Lita Santos
  • James Fugar
    signed 2019-05-22 21:06:16 +1000
  • Jarrad Italia
    signed 2019-05-22 19:49:36 +1000
  • Elly Shand
    signed 2019-05-22 19:06:44 +1000
    Farkin liberal government, get em boys.
  • Jarrah Edwards
    signed 2019-05-22 17:23:31 +1000
  • Angus Ford
    signed 2019-05-22 17:10:52 +1000
  • Daniel Hall
    signed 2019-05-22 15:35:07 +1000
  • Harold McIntyre
    signed 2019-05-22 12:40:29 +1000
  • Zebedee Koster
    signed 2019-05-22 12:25:50 +1000
  • Owen Ellero
    signed 2019-05-22 11:50:20 +1000
  • Jason Buisman
    signed 2019-05-22 10:46:38 +1000
  • Rob Fm
    signed 2019-05-22 10:34:13 +1000