Discover and read the best of Twitter Threads about #frankingcredits
Most recents (4)
How good are Franking Credits?... A thread 1/7
Go for that tax give away if you can get it.
Gather up every last cent in #Frankingcredits where possible...
And then redistribute it.
Be the govt we don't have.
#auspol
Go for that tax give away if you can get it.
Gather up every last cent in #Frankingcredits where possible...
And then redistribute it.
Be the govt we don't have.
#auspol
2/7 The #frankingcredit handout that goes mostly to shareholders with $2 M or more is set to continue indefinitely.
Over the next 10 yrs we'll need to find $58B for fund tax refunds to ppl who pay no tax.
And the election has simply made more ppl aware of this free money.
#auspol
Over the next 10 yrs we'll need to find $58B for fund tax refunds to ppl who pay no tax.
And the election has simply made more ppl aware of this free money.
#auspol
3/7 There have now been calls to broaden or increase the GST to fund this unsustainable give away.
The media have forecast cuts to govt services to raise revenue.
No matter which way you look at it, the poor will be paying long & hard, for this #frankingcredit 'gift'.
#auspol
The media have forecast cuts to govt services to raise revenue.
No matter which way you look at it, the poor will be paying long & hard, for this #frankingcredit 'gift'.
#auspol
Such crap: year I started uni HECS fees *doubled* (thus dumped on younger generations without any "grandfathering"). Where's lifetime costs of that factored in to concessions for my generation? & what of super tax rorts now closed off &therefore used exclusively by 65+? 
A "right to rorts" = bullshit concept. Rules are changed on vulnerable in society all the time: so why are #frankingCredits so critical? A poor person might reasonably expect a roof over their head: oops, sorry, insufficient budget!
Wealthy stack of shares: CANT CHANGE RULES!
Wealthy stack of shares: CANT CHANGE RULES!
And let's look at the impact: having to shift your retirement portfolio to different shares or investment mix? For people in retirement they should be doing this anyhow and it sounds like many loaded up on a limited set of shares which is a terrible idea and very exposed.
Antoinette Braybrook says #ParentsNext is another attempt to "income manage" for First Nations people. Data shows ATSI people have been disproportionately impacted by payment suspensions #auspol
Human Rights Commission president Rosalind Croucher says the AHRC is “gravely concerned” about compulsory and punitive approach of #ParentsNext. She says program is not compliant with Australia’s human rights obligations and has not been shown to meet its stated goals. #auspol
deleted and reposted tweet about Croucher's comments as I misstated her title
1/ Ok, so I'm getting a little sick of the #FrankingCredits debate. I'm a tax accountant and I deal with franking credits all the time, so here's a few numbers: #auspol
2/ Let's look at a person who has a "modest" franking credit refund of $20,000. This person will also have a "Franked dividend" of ~$46,600. That's $46,600 of cash (or potentially reinvestment, more on that later).
3/ Now, the value of these shares (based on a 4% dividend yield, which is the average market yield), would be $1,165,000. Yes, that's 1 million, 1 hundred and 65 thousand.
