Opinion
Treasury’s proposed changes will have wide and unintended consequences on small businesses and their shareholders, and even risk slashing company tax revenue, damaging the federal budget.
The Senate is considering a proposal from Treasury to make changes to the franking system.
The franking system is a clever solution to the challenge of double taxation, introduced in 1985 by then-treasurer Paul Keating and designed so that dividends are fairly taxed at the marginal rate of individual shareholders.
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Original URL: https://www.afr.com/policy/tax-and-super/franking-system-fiddle-will-just-create-bigger-problems-20230528-p5dbum