Veteran fund manager Geoff Wilson has established a petition objecting to the Labor government’s position on Franking Credits. Labor’s proposed changes to dividend imputation rules, would stop individual and super funds claiming cash refunds for excess imputations credits not used to offset tax liabilities. This could potentially reduce self-managed superannuation funds income by hundreds of thousands of dollars.
17,000 signatures have been collected to date, with the aim of 50,000 to 100,000 signatures in the view that this will be enough to sway Labor’s position.
Custom Accounting recognises the impact that this change would have on a number of our clients and are strongly opposed to the changes.
To support the maintaining of the current dividend imputation system, please email email@example.com and we will submit your details to the petition on your behalf.