Franking credit refunds PBO estimates in doubt, page-29

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    Hi Yogi
    "The Australian imputation system has operated since 1 July 1987. It is a partial integration of company tax and personal tax. In a fully integrated company tax system, all income at the corporate level is attributed to the shareholder, regardless of whether or not it is distributed, and taxed at the marginal income rates applying to each shareholder. Australia operates a lesser or partial version of this: only distributed profits in the form of dividends are attributed to shareholders. Company tax paid on these dividends is attributed to the shareholder as a withholding of personal tax due."

    Still dishonest arguments I see going on.

    Just go to any company and ask for your undistrubuted profit since it is is attributed to you. It must be legally yours no? We'll all be rich.
    You are also aware that if we take that definition, then we are all in business. What are the super rules regarding running a business? So according to you there is not one single complying fund in Australia.

    There is no such a thing as a fully intergrated system that the above relates to. Tax is charged on a "Legal Entity Basis.." Full stop. Any body who claims otherwise is either a liar or ignorant of the Australian Taxation system.

    At least $6 Billions dollars of welfare every year going mostly to the rich. As one poster put it, they have grown fat on the lolly and like a 12 year old they are now throwing an unholy dummy spit.

    Scum bags got away with the lies on the mining tax. (I didn't see a single scum bag cry about the special tax on banks.)
    Scum bags got away with the lies of the carbon tax. How did that go for us? Still waiting for your $500 cut in electricity?

    Hoepefully people are not going to let scum bags get aways with the lies generated by the rich with the issue of returning franking credits in cash.

    Pear
 
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