08 Feb 2019 Regarding Member 14’s comments on franking credit refunds
MEMBER 17 writes:
In response to Member 14’s comments (TaxVine 3, 1 February 2019):
“This proposal denies pensioners the rights to franking credit refunds. This is something that no one seems to be highlighting.
Incorrect, this is being highlighted by the Government at every opportunity.”
Sorry but this is not the Government’s policy.
The Labor party policy is to allow franking credits to pensioners who were receiving the pension in March 2017. This means that any pensioner who obtained the pension after that date will not be entitled to franking credits. In addition, anyone who structures their affairs after that date to ensure that they get a pension will not get the franking credits.
Given the confusion in relation to the policy, I call on The Tax institute to confirm this Labor party policy (as I have with my local Labor member). It is clearly going to impact on age pensioners.
So, what is being highlighted by the Labor party at every opportunity is false.