Imputation Credits

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Re: Imputation Credits

Postby johnsmith » 18 Mar 2018, 15:36

Aussie wrote:Lets say:

I own shares in BHP. It makes a trading profit in a year. It has paid corporate tax on that profit. After it has paid that tax.....from what is left...and after making whatever other allowances it needs to for commercial pays out what is known as a franked dividend to me, and I am not required to pay income tax on it.

Before this 'franked' concept came in, I also was taxed on that income, and so it was argued, the Government was double dipping.

So stop that, the 'franked' system was introduced.

Since then, some other tax benefit has been granted to those franked dividends if the shares are part of a self managed super fund.

As I understand it, that other tax benefit is what Labor has in its sights. I can't see the problem.

i made this point in the other thread but it's not the retirees whop payed the tax on the dividends .... it's the companies that paid the dividends. why should retirees claim back money paid by a third entity?
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Re: Imputation Credits

Postby pinkeye » 19 Mar 2018, 00:57

johnsmith wrote:
RightSaidFred wrote:
johnsmith wrote:
RightSaidFred wrote:
johnsmith wrote:this is a good move by labor. We need to remove the wealthfare from our welfare system

Not sure why you think its a good move, I am a bit in the middle on this one the process looks like a money go round.

On a political note the ALP is going after self funded retirees so good luck on that one, I guess the ALP are banking on this group not voting ALP in the first place

because WEALTHFARE is killing the country. Govt. is supposed to provide a safety net, not a higher standard of living.

How the fuck can they claim back tax they haven't paid? The whole idea is preposterous.

This is why I am asking the question your response does not play well politically, so far this is how the ALP are explaining it without the rude words same arrogance
Looks like a lot of pain for very little gain politically.
Hitting up retirees for extra tax revenue is how it will read.
Self funded retirees is a growing group with compulsory super pushing middle to high income earners into this group more so.
My monster in law only worked part time and inherited her husbands super + other ,,,, even she only gets a partial pension...... the next generation (mine) will not get a pension for more and more (I will be many times over the limit) ..... what we have seen is both the ALP and the LNP dicking around with super which will cause problems politically.

I can see what the ALP are trying to do politically the last time they got in they did it using Blabber Mouth Rudd with a me-too Small L Liberal strategy to win then introduce a whole pile of nonsense that was the usual ALP stuff a lot even themselves rejected (stuff like the failed cash for clunkers)

At least this time they are being up front but it might play into the LNP's hands, this is a political attack on the so called rich .... that is how will play out, so far the ALP have not sold it very well.

I'm not so sure there is very little gain politically. The last few elections labor has been losing it's traditional supporter base because they haven't been doing enough of this.

I doubt they'll lose to much of their existing vote over this anyway since those most likely to be affected are more likely to have voted liberal anyway. They're not hitting up retirees for more revenue. The retirees pay not one cent more. Anyone so affected by this that it will make their life more difficult, such as your mother in law, will end up with a higher part pension or a full pension, depending on their total income. The fact remains that the greater majority of pensioners will be largely unaffected. The libs attempts to scare pensioners won't work.

Well JS I do hope you are correct. For sure the people concerned MAY understand it ( altho that is debataeable) but it seems facts don't count anymore and political rhetoric is so full of bullshit NO ONE gets it .!
Your average Joe, who probably doesn't even know where or how much super he has wouldn't understand this in a week, but could still feel threatened. Ignorance is a blessing to governments in power, and Superannuation, especially, is much TOO hard and complex for your average Mom and Dad to put their life savings into SMSF's.

Another Howard crime was to encourage Mom and Dad investors.. or potential or recent retirees, to invest their life savings in shares and SMSFs. Frankly I was horrified at such callous careless treatment by government of their aging population. They made these citizens open slather for your rip-off merchants. THE rip-off merchants the GOVERNMENT approved of. God I'm glad I got out when I did. I could only ever work in an industry like that if I respected it.
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Re: Imputation Credits

Postby HBS Guy » 20 Mar 2018, 05:19

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Re: Imputation Credits

Postby Aussie » 20 Mar 2018, 09:12

Can you reduce the size of that so I can post it at Lee?
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Re: Imputation Credits

Postby HBS Guy » 20 Mar 2018, 09:17

That will post alright.

PS: talking about OzPol, I changed my sig to hit back at AiA’s sig.
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