Proposal to abolish refundability of Franking Credits, page-8

  1. 8,751 Posts.
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    If government keeps screwing with Super, then some folks (the pointy end of town) will simply off shore the assets to a tax free environment, obtain citizenship (as low as $100k in assets in St Lucia) and then claim an old age pension as well as paying zero tax. All to bloody easy.

    Bottom line is that the really wealthy will just deal with anything any government chucks at them. It is the middle classes that will take the hit. Due to the ability of the wealthy ($2m plus in super is probably worth while to off shore it) to avoid the hassle of super then any taxation raised will be to some extent minimal.

    But for Labour it is all about the sound bite of taxing the rich.

    When does the class warfare stop? I thought we had got past that over 30 years ago.
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