$27 again, page-19

It does seem weird to have a structure (franking) whereby a company (in theory) can pay NIL tax - that is, all the tax they paid, is refunded to the 'owners'. I read Australia is the only country in the world with that strange set up.

And it seems also weird that if franking is gone, it is only gone for some people in some scenarios.

And I will bet it takes five minutes for a clever accountant to rearrange the assets of the 'rich' so they are 'notionally' (or actually) paying some tax so they still get the frank.

And I bet it will take another less than 5 minutes for asx companies to arrange dividends in such a way as you can choose one with franking, or perhaps a no frank buy back. Both BHP and RIO have worked out how to distribute earnings / tax in the best way for the recipient.

So, although an interesting discussion, I see no change at all. No less money into hands of the rich and no more tax for the govt. The only hope for a schmuck like me is the 'outcry' will cause some good asx divvy payers to drop 5 or 10% if unholy Labor gets voted in - and I can get some blue chips at a bargain.