Federal Election 2019: Labor’s ‘retiree’ tax plan could decide 20 marginal seats in Australia

Labor’s plan to axe franking credit refunds will affect more than 900,000 Australians. New data shows which areas will be the hardest hit. SEE IF IT WILL HIT YOUR ELECTORATE.

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Exclusive: Bill Shorten’s plan to axe franking credit refunds could be a deciding factor in 15 of the most marginal seats in the country, exclusive analysis reveals.

Australian Taxation Office data shows there are at least three times as many people affected by Labor’s so-called “retiree tax” than there are votes needed to change hands in the most closely-fought electorates that are set to determine which party wins the election.

In the Queensland seat of Herbert, which Labor won in 2016 by just 37 votes, there were 4013 retirees who will lose cash under Mr Shorten’s policy.

Opposition Leader Bill Shorten’s plan to axe franking credits is likely to hold a lot of weight in some of Australia’s most marginal seats. Picture Kym Smith

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While in Corangamite in Victoria there were 8534 voters who were set to have their refunds axed which could help Liberal Sarah Henderson to hang on to her seat that was put under Labor’s column with a buffer of about 330 votes after a radical overhaul of the states electorate boundaries last year.

Another Victorian seat where the issue was set to play a substantial role includes Dunkley which also became notionally Labor-held under the redraw with Liberal MP Chris Crewther needing to claw back about 550 votes and there were almost 5000 voters set to lose out.

And in Macnamara where Labor MP Michael Danby was retiring there were 10 times the number of retirees dudded as votes needed for the Liberals to secure the seat.

Labor also risk having swinging voters lock in behind the Coalition in marginal seats the Opposition has set its sights on including Capricornia in Queensland and Robertson, Gilmore and Banks in NSW where there were thousands of retirees set to be affected by Mr Shorten’s tax grab.

Treasurer Josh Frydenberg urged retirees who were set to lose under Mr Shorten’s policy not to vote Labor.

“In recent months, hundreds of retirees have voiced their deep seated anger and worry about the impact that Labor’s tax would have on their quality of life in retirement,” Mr Frydenberg said.

“Yet Shadow Treasurer Chris Bowen has arrogantly dismissed these concerns, telling retirees that if they don’t like the policy then they should vote against Labor. The only way to stop Labor’s retiree tax is to vote for the Coalition.”

AFFECTED AUSSIES

Location of Australians who received refundable franking credits from direct shareholdings

Number affected (thousands)

NSW: 310

Victoria: 240

Queensland: 165

Western Australia: 90

South Australia: 65

Tasmania: 20

ACT: 15

NT: 3

Total 910,000

Originally published as Federal Election 2019: Labor’s ‘retiree’ tax plan could decide 20 marginal seats in Australia