Bowen the shadow treasurer just lied on national television, on...

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boofta

493 Posts.

18/02/19

20:21

Post #: 37476409
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Originally posted by etherazer: ↑

You're wrong, as has been pointed out to you many times on this website, according to the ATO; with several ATO website quotes posted here.

The Franking credits are imputed to the owners of the company, they being the shareholders.
You simply refuse to accept that fact.

If you want to change that fact then comprehensive company taxation legislation is required and
the whole imputation system legislation set up decades ago by Keating, to avoid double taxation being paid by the owners of a company on profit of that company, will need to be redrawn.

In future if there are to be NO franking credits any more, as a result of an even greedier planned Labor/Greens gov't tax grab I expect they'll attempt to put in place late in the next term, then there will be no grossing up of dividends to an individual shareholder's taxable income by adding that 3/7ths of your dividend to your taxable income either.

This will see the next generation of inventive retirees reworking and repositioning their assets and Super to get the best result and avoid overpaying tax to a much bigger, big, Labor gov't.

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Bowen the shadow treasurer just lied on national television, on the ABC of all places.
He said to Lee Sales "no other country has a system of franking or imputation credits"
A bold outright lie being perpetuated by the labour rabble.
HERES THE TRUTH
Australia, Malta and New Zealand have imputation systems. Chile, Canada, Korea and the United Kingdom have a partial imputation system.
That is a quote from Wikipedia.

Why is the shadow treasurer lying.
Help me lefty rabble, I was going to vote labour, now I'm confused!
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