The Albanese government has shocked investors by proposing to retrospectively stop companies paying shareholders fully franked dividends that are funded by capital raisings.
The crackdown on dividend imputation credits will affect retail investors and superannuation funds receiving special dividends outside of the usual dividend payment cycle and companies that issue new equity to fund distributions to shareholders.
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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
