Close Unfair Tax Loopholes: End cash refunds for franking credits

The complexity of the Australian tax system hides many loopholes, one of the most unfair is the fact that some of Australia’s wealthiest citizens pay negative tax. The tax office actually pays money to people who have paid no tax themselves, and these people are some of the wealthiest in the country. 

It's time this perverse tax loophole was closed.

Only by closing unfair tax loopholes can Australia implement progressive reforms like strengthening the social safety net, building social housing, investing in schools and universities, addressing climate change and improving health care.

 

We, the undersigned--

Call upon the Australian Parliament to guarantee that the tax system treats all Australians fairly and raises the revenue our community needs to fund vital services. Low income workers should not pay more tax than millionaires.

We call upon the Australian Parliament to abolish the practice of providing cash refunds for unused franking credits to people who pay zero tax, introduced by the Howard Government in 2000.

The policy mainly benefits the most wealthy of Australians and no other country does this. Currently, the Federal Government spends more on refunding franking credits than it does on funding public schools.

It's time to end this tax bonus for those who pay no tax.

ADD YOUR NAME --

6,445 signatures
Goal: 7,500 signatures

Will you sign?

: :

:

:

:

:

: :

: :

:

:

: :

:

:

: :

By signing this petition you accept the Australia Institute's Privacy Policy.

Latest supporters

Judith Leslie
Judith Leslie signed 2019-02-23 08:59:01 +1100
Richard Murphy signed 2019-02-23 08:58:44 +1100
Hayward Peter signed 2019-02-23 08:58:43 +1100
David Morawetz
David Morawetz signed 2019-02-23 08:58:30 +1100
Martin Buckley signed 2019-02-23 08:58:26 +1100
David Turnbull signed 2019-02-23 08:58:22 +1100
Andrew Jennings signed 2019-02-23 08:58:16 +1100
Sean Cooper signed 2019-02-23 08:58:03 +1100
colin samundsett signed 2019-02-23 08:57:55 +1100
Chantal Kelly signed 2019-02-23 08:57:45 +1100
John Talent signed 2019-02-23 08:57:19 +1100
Gail Artley
Gail Artley signed 2019-02-23 08:56:48 +1100
Judy Frankenberg signed 2019-02-23 08:56:41 +1100
Catherine Pendrey
Catherine Pendrey signed 2019-02-23 08:56:38 +1100
Dorothy Noble signed 2019-02-23 08:56:13 +1100
mark glover signed 2019-02-23 08:56:01 +1100
Anthony Potter signed 2019-02-23 08:55:54 +1100
Neil Denison
Neil Denison signed 2019-02-23 08:55:25 +1100
Keith Jackson AM signed 2019-02-23 08:55:24 +1100
Graeme Smith
Graeme Smith signed 2019-02-23 08:55:21 +1100
Francis Wilkinson
Francis Wilkinson signed 2019-02-23 08:55:18 +1100
Noel Condie signed 2019-02-23 08:55:07 +1100
John Cooper signed 2019-02-23 08:55:04 +1100
Kerry Jenson
Kerry Jenson signed 2019-02-23 08:54:20 +1100
Alan Murnane signed 2019-02-23 08:54:19 +1100
Helen Goodman
Helen Goodman signed 2019-02-23 08:53:30 +1100
Mariana Moonsun signed 2019-02-23 08:53:04 +1100
Nigel Glassey
Nigel Glassey signed 2019-02-23 08:53:02 +1100
Joanna Van Kool
Joanna Van Kool @JoannavanKool tweeted link to . 2019-02-23 08:52:42 +1100
Elizabeth Cuthbertson signed 2019-02-23 08:52:41 +1100