Reinvested dividends and banks raising capital to bolster their balance sheets will be carved out of a government tax crackdown on franking credits.
Private companies undertaking succession planning via the entry and exit of shareholders will also be exempted from the tax measure being negotiated in the Senate.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
