Tax-exempt bodies such as charities and universities have been spared from Labor’s policy to remove refundable franking credits, with pensioners later added to the list of exemptions as well.
Read more at the Accountants Daily.
‘Creative’ tax solutions feared in franking credits fallout
Tax lawyers fear Labor’s proposal to end cash refunds for excess dividend imputation credits will likely spur the creation of products to capitalise on the exemptions given to charities and not-for-profits institutions.
