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2 August 2025
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Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.
The results of three studies suggest that companies undertake less tax avoidance due to franking credit refundability. It gives an incentive to pay corporate tax and franked dividends to satisfy Australian shareholders.
In the final Leaders' Debate, the Prime Minister asked why Labor wishes to deny a tax deduction for additional personal concessional contributions, reinstating the old 10% rule. What's the logic of this complex rule?
Amazingly, SMSF pensioners invested in Australian shares will be much worse off under the Labor franking policy than in the ‘bad old days’ when their pensions were taxed.
Australian retirees' access to dividend imputation refunds justifies a bias towards Australian equities in retirement, and the loss of refunds will have significant portfolio and income implications.
When rules are changed, behaviour changes as well. A future Labor government should not be surprised when SMSF trustees and self-funded retires minimise the impact of the removal of imputation credit refunds.
Labor has been forced to exempt 'pensioners' from its franking credit refund policy, but the target remains the zero tax paid by large SMSFs in pension phase. That will sustain the class war.
The current system is fundamentally fair as domestic shareholders pay tax on fully franked dividends at their own tax rate. This is what imputation should achieve and why we need franking credits refunded.
Doubts about the value of franking credits under Labor's proposed policy have already led to a rise in spreads on hybrids, which might throw up good investment opportunities.
The Labor proposal to eliminate refunds of excess franking credits will have a significant impact on many retirees who hold Australian shares paying fully franked dividends.
The Australian share market offers a dividend yield of about 4.2% at the moment, supported by franking credit of 1.5% to give an attractive 5.7%. The focus is on the refund of this credit.
Every day, an expert writes somewhere about the adverse impact of a reduction in franking credits due to a lower company tax rate. This tax rate has no impact on the after-tax returns received by Australian shareholders.
Treasurer Jim Chalmers aims to tackle tax reform but faces challenges. Previous reviews struggled due to political sensitivities, highlighting the need for comprehensive and politically feasible change.
With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains.
The Labor government is talking up tax reform to lift Australia’s ailing economic growth. Before any changes are made, it’s important to know who pays tax, who owns assets, and how much people have in their super for retirement.
There are many ways to invest in stocks, but some strategies are more effective than others. Here are nine tried and tested investment approaches - choosing one of these can improve your chances of reaching your financial goals.
In selling the super tax, Labor has repeated Treasury claims of there being $50 billion in super tax concessions annually, mostly flowing to high-income earners. This figure is vastly overstated.
Markets have weathered geopolitical turmoil, hitting near record highs. Investors face tough decisions on valuations, asset concentration, and strategic portfolio rebalancing for risk control and future returns.