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bensterz

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15/07/16

23:21

Post #: 18283685
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Originally posted by logco ↑

Before franking credits companies issued bonus shares to help out with tax.
Pushing the tax free threshold up to $18000 was IMO a poorly considered change,it meant that retirees like me and my wife can claim that each as well as tax free pension,I don't know how much that cost.
If the franking credits are taken away from SMSF then they would push to claim losses.
What ever measures are taken the imaginary increased tax take gets watered down very quickly as investors find other places to invest their money ,palming money off to their kids and then claiming the pension.
People get very creative when the government start to take money off them.

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If it means people have more diversified portfolios in order to utilise the franking credits that is fine - it means that the floor for Australian corporate tax is 30% - it isn't eroded by people tilting their investment portfolios to harvest tax credits.
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