Fair cop with the "death tax" which was akin to the mediscare in...

Fair cop with the "death tax" which was akin to the mediscare in 2016. Both sides have a crack and it is all banal stuff. However, the Libs were correct to defend franking credits. If you go right back to the Campbell Commission, it proposed the current imputation system. Fraser squibbed it but Keating took on the new system rather than sticking with the "classical" dividend system which then existed (and which facilitated many economic inefficiencies plus tax avoidance). However, Keating decided to omit the refund of franking credits which was fair enough at the time (best Treasurer in postwar Australia). Howard decided to allow the refund of franking credits to get back to the "pure" methodology of Campbell's recommendation. In my opinion, the Libs were correct in protecting that arrangement as many people had quite legitimately arranged their affairs (ie shareholdings) to take advantage of the franking refund.

To me, the bigger issue is the eligibility of those who are multi millionaires to get aged pensions. I am sure that you would agree.

Anyway, this is a forum of PGC which, to me, is a company going quite well in difficult times. Unfortunately, it appears to be a bit of a plaything for large index funds but nothing can detract from the improving accounts of the company hence a franked dividend. We should all celebrate. Cheers Keith


To me