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‘Back-door attempt to dismantle the franking system’

Lucy Dean

Fund manager Geoff Wilson has accused the Labor government of breaking an election promise with its changes to off-market share buybacks, claiming it marks the start of a plan to “dismantle” Australia’s franking credits system.

The federal budget last month included a $550 million crackdown on off-market share buybacks, designed to cut the “streaming” of franked dividends to shareholders.

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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com

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    Original URL: https://www.afr.com/wealth/investing/backdoor-attempt-to-dismantle-the-franking-system-20221108-p5bweu