I agree, yes we do pay tax, the Franking credits are pay as you go tax. The PAYG tax (Franking Credits) is collected from us and at the moment refunded because we have paid too much tax as it should. It is kept if we are over the tax free threshold again as it should.
When Bill Shorten says it's giving someone who has paid no tax a refund he is lying. The Tax has been collected in the first place and is returned or not returned according to rules of Taxing Brackets.
Why does the LIBS and the Media not make this clear! It is our investments in Shares and the risks we take that allows the ATO to collect the Franking Credits in the first place. If we earn above the Tax Free Threshold then yes keep the Franking Credits thanks to the risk we take.
