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Franking credit scare campaign



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THE HON DR SHARMAN STONE MP Federal Member for Murray

Tuesday 27 August 2013

LABOR’S SCARE CAMPAIGN ON FRANKING CREDITS

‘The Labor campaign advertising, claiming people will lose all of their franking credits under a Coalition Government is pure scare mongering,’ Sharman Stone, the Federal Member for Murray said.

‘Self- funded retirees and families will be much better off under a Coalition government. Not only will people keep the personal tax cuts and fortnightly pension increases of recent years, they will not have to pay the Carbon tax that has blown out their power bills.’

A self-funded retired couple with an income of $60,000 a year will be about $450 better off when the Carbon tax goes. This will climb to being $650 better off by 2019-20.

The Coalition will not make any changes to the franking credit system. Shareholders will continue to receive franking credits for the company tax paid by companies.

Only 1.5% of franking credits on businesses with a taxable income over $5 million will be impacted in relation to the proposed Paid Parental Leave. These companies will not have franking credits available for that 1.5% their business. This will not equate to a wipe-out of their franking credit at all.

‘These same businesses will benefit from the Coalition’s commitment to cut 1.5% in business tax, boost jobs, ease cost of living and boost business profitability.

‘The Coalition will also give self- funded retirees certainty and stability with their superannuation. We have a no-surprises policy,’ Sharman Stone said.

Media inquiries: Vicki Neele 0408589807

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