Franking credits - gone?

One of the main problems was that prospective changes to negative gearing and cgt were grandfathered, whereas changes to franking credit refunds were not. It appeared that older, retired people were being singled out.

People naturally got upset when their retirement plans of over 15 years were to be suddenly upended and their income substantially cut. And no, that’s not me, my refund is around $1,200.

Instead of weaving and ducking by exempting one section of the community then another from the refund changes, a straightforward cap on the amount of refund may have been easier to promote. Or, at the very least, some sort of phasing-in over several years, to allow plans to be changed and cgt managed.

Marg
Am I still “top end of town” now that BS has resigned?

 

If Bowen had been prepared to consider listening to such concerns and accepting some compromise rather than arrogantly telling retirees they can vote for someone else then the outcome may have been better for Labor.

To not offer any sort of grandfathering (especially for those other than the very wealthy) after the policy had been in place for most of the last two decades was out and out cruel. This cohort unlike many others impacted by changes to negative gearing which would have had been grandfathered no longer had the benefit of human capital being older retirees to recover from such a considerable loss of income.

 

I agree, Bowen should give it another run - He's still got one good shoe.



If Bowen is not demoted, it would be a sign that they have learnt nothing.

Most Australians ARE aspirational.

 

And this from the idiot suggests he hasn’t learn’t:

Hope he gets his ar*e kicked severely.

You a bit less grumpier now compared to the other day @dunno?

 

He would have to fall on his sword and go back to the backbench for a while now? Surely the Labor party will learn and pivot a renewed policy focus that doesn't marginalize older Australians or the aspiration working class? (perhaps this is too hopeful..)

 

Wasn't grumpy, just frustrated - but now I'm a bit impressed. Electorate smarter than I gave credit for.

Seemed like Labor’s class warfare non-factual approach to selling the franking refund policy had won the day in the Media.

However, the quiet voters educated about their own circumstances and un-equitability of the policy seem to have made their voice heard where it matters.

I reckon when they do the wash up they will find Franking Credit the biggest “vote changer” by far. This election should have been a shoe in for Labor had they not shot themselves in the foot.

In many ways I’m Labor leaning on environment, social issues etc. But I couldn’t vote for them this time, with a massive and largely unnecessary at this stage taxation and re-distribution agenda, being sold on class warfare whilst trowing equality for hard working aspirational Australians out the window.

 

Any chance of altering the title of this thread to:

Franking credits - No they're not gone?

 

They are gone for those investors who sold their franked shares assuming Labor would get in.

I read this morning that a considerable amount of franked shares had been sold by investors as recommended by their Financial Advisors.

 

wonder what happened to buy the rumour sell the fact?

 

WBC currently going ballistic, up 8.86% as those looking for dividends pile in.

 

yes, its a bit random the banks today. All the majors with the exception of CBA have already gone ex dividend.

 

My father just told me he had lunch with a friend of his yesterday, who did exactly this. His friend commented yesterday he's going to pile back into fully franked shares.

Though I'm not sure if he'd had any professional advice.

 

I was at our Men's Shed get-together this morning (a far from representative demographic, admittedly) and about 18 of the 20 present were positively delighted with the election result.

 

Depends of their CG position or overall fear level I suppose.

Sometimes nervous types no matter what the view of or the advice from the FP get so worked up, the FP indicates it may help their client if they sell. I don't know all the information not being privy to the discussions.

I always ask myself the question What don't I know?. The answer is An enormous amount. But then do I want to know?

 

+1 agree

I have considered voting for them in the past (but never voted for them) but after seeing what they can get up to over past few years I think it's gonna take me very long time to warm up to the idea of voting for them in future.

Cheers,
Oracle.

 

This is the biggest thing that I recognised, this election. Beforehand my feed on social media was full of Labor supporters telling the world how good their policy was and how we need to fix 'the loophole' that are franking credits. A very loud and often uninformed lot, mostly low paid workers and youngsters wanting to stick it to the rich. After the election the same mob are crying and are still very loud. The Liberals don't say much. There's still not much being said. They seem to be a classier lot & just get on with life.

 

Looks like Australia/ the majority of also supported this view.
What a time to be alive!!

 

No, the difference is simple.
Whilst they are crying out loud and beating the unfair drum the rest of us are busy getting on with it, adapting to change and making money.
Actions speak louder than words.

 

second biggest post election rally in 26 years mostly banks driven, thought MPL which I also hold add 11%
look like my covered call on CBA of $76 buck get taken out if it hang around this level for a few weeks but happy to let that go and wait to come back in latter when more doom and gloom return