Wilson sees post-election hope for franking credits

One of the mainstays of the campaign opposing the Australian Labor Party’s (ALP) move to remove refundable franking credits, fund manager Geoff Wilson, has signalled a continuation of the fight even if Bill Shorten becomes Prime Minister.

In a letter to shareholders, the chairman of Wilson Asset Management said it was still possible the ALP’s franking credit changes would be blocked in the Senate.

“Regardless of which political party wins the upcoming Federal Election, we hope that Labor abandons or dramatically changes this inequitable policy,” he said.

Related News:

“We believe there is cause for hope. For example, nine of the 10 crossbench Senators have committed to blocking the changes if they reach the Senate in their current form and two have adopted our term for the policy – “retirement tax”.

Wilson said his company’s campaign against the proposal to remove franking credit refunds “had secured the policy’s position as a key election issue and ensured it has attracted the scruinty it deserves”.

Related Content

Will an ALP victory accelerate planner exits?

Recent surveying undertaken by Money Management has revealed that upwards of 30 per cent of financial planners intend to depart the industry because o...Read more

Should ESG be made a regulatory necessity?

The industry funds-backed Australian Council of Superannuation Investors (ACSI) has called on the major parties to commit to strengthen investment ste...Read more

Financial planners need to prepare for alternative election outcomes

The outcome of this year’s Federal election could have differing impacts for financial planners on superannuation and tax, with the main parties tak...Read more




Just one part of Labor's BIG TAX GRAB!!

Where was Geoff Wilson's outrage between 1987 and 2000 when excess imputation credits were not refunded. It's only an outrage now?

Add new comment