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Dick Smith speaks the Truth, page-64

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dan1

18,564 Posts.

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18/08/19

18:19

Post #: 40030345
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Originally posted by Dave R: ↑

No it is not. A company and it's shareholders are separate entities for tax purposes.
One does not pay tax on behalf of the other.
With franking refunds the company pays it's due tax to the government and the government then gives those back which is welfare because once paid by the company it is government money not shareholders money.
So the government is gifting it's money to you which is welfare.

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Hey dave, you realise that mum and dad company owners can also use franking credits for tax paid by their company - no difference to owning shares in Westpac or any other company.

Its stopping the ATO from double dipping and its not welfare
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