The simplest and easiest way to do away with franking credits is to have the Company distribute all profit to shareholders before tax is accounted for, and have the Govt collect the tax from the shareholders in their annual tax returns.
That is fair to everyone, even those incapable of grasping the concept of dividend imputation.
Still it seems to me that most complaints on this subject are ideologically based.
Where to now for long term investors of Telstra, page-6736
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