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10:43
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Originally posted by boomeronrations:
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''it's a funny take on franking credits to think they might be immoral or unfair. You think it is a more moral or fair tax scenario for the govt to tax 30% at the company level and then tax the investor on top of that?There is also a good argument to be had about the franking credits paid out as a rebate to low tax payers given all taxpayers got a tax reduction when GST was introduced at the same time in 1987- except of course pensioners or people on a low tax rate which was one of the rationale for the introduction. It's an easy political football to get headlines but a lot more complex.''
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Great perspective. I made the same points. Whilst the banks have healthy capital ratios, I am selling into this temporary artificial buy-back strength, just as I bought it when they were trading so low 16 months ago. NAB literally sold shares at $14 and is now buying them back at $27. I will take the opposite side to that trade every time thanks.
(20min delay)