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Franking Credits, page-126

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oldbull26

8,742 Posts.

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19/01/20

10:23

Post #: 42456316
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Originally posted by squidd: ↑

Hi Rock57,

Brilliant reply, had me laughing a bit!

In the end, it's the voters who decide whether they like the changes a political party is suggesting. At the last election, the majority clearly did not support Labor's suggested changes. In your own words Tarvold, get over it.

Also IMO, if a party wants to allow for fairness in taxation changes, any changes should generally not be retrospective, only forward looking. While this will no doubt have reduced the tax take Labor was salivating about with glee, it protects those who structured their taxation affairs legally and in good faith under the previous rules. IMO the issue of retrospectivity significantly hurt Labor at the last election.

Cheers!

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Squidd. No. Labor grandfathered all existing NG arrangements and franking credit changes would have been implemented when they passed through parliament. Labor have never introduced retrospective changes to tax laws.
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