Government committee hands down franking credit report
The Standing Committee on Economics has advised against Labor’s policy to remove refundable franking credits, after determining that it would impact individuals on modest incomes and discriminate against SMSFs in favour of APRA-regulated funds.
Following the announcement by Labor in March last year that, if elected, it planned to remove cash refunds for excess dividend imputation credits as a way of improving the budget bottom line, the Treasurer referred to the committee an inquiry into the implications of removing refundable franking credits.
Read more at SMSFAdviser.
