Dates of franking credits hearings announced


Scrapping cash refunds for franking credits is a major issue for seniors leading up to the next federal election, and you can tell the politicians what you think at special hearings to be held across the nation.

The House of Representatives Standing Committee on Economics is inquiring into the impact of the Labor policy and has released dates and venues for public hearings in Queensland and New South Wales, with dates for other states yet to be released.

Queensland

  • Townsville, 2pm-3.30pm, Tuesday 29 January, Pandora Room, Hotel Grand Chancellor, 334 Flinders Street
  • Alexandra Headland, 9am-10.30am, Wednesday 30 January, Bluff Function Room, Alexandra Headland Surf Life Saving Club, 167 Alexandra Parade
  • Paddington, 2.30pm-4.00pm, Wednesday 30 January, Presentation Room, Lavalla Centre, 58 Fernberg Road
  • Eight Mile Plains, 9am-10.30am, Thursday 31 January, Central Auditorium, Brisbane Technology Park Conference Centre, 1 Clunies Ross Court
  • Upper Coomera, 2pm-3.30pm, Thursday, 31 January, Upper Coomera Centre, 90 Reserve Road

New South Wales

  • Merimbula, 9am-10.30am, Monday, 4 February, Merimbula RSL, 52-54 Main Street
  • Chatswood, 9am-10.30am, Friday 8 February, Chatswood Club, Level One G11 Help Street
  • Bondi Junction, 2pm-3.30pm, Friday 8 February, Bondi Junction RSL, 1/9 Gray Street.

The hearings will be webcast live (audio only).

National Seniors opposes the Labor policy because it will force more people onto the Age Pension and hit the income of retirees who saved hard under existing tax rules to self-fund their retirement.

Because the majority of self-funded retirees own shares, hundreds of thousands of older Australians will be affected.

The policy, announced last March, has the potential to hurt many ordinary Australians and not just the wealthiest as Labor claims. In some instances, low-income self-funded retirees will be worse off financially than those receiving a part-pension.

Pressure by National Seniors and others played a major role in Labor changing the policy to exempt full and part pensioners, and we continue to call for it to be dumped altogether.

The House of Representatives Standing Committee has received more than 1000 submissions. Chair Tim Wilson MP said Australians could attend the hearings and address the committee directly with a three-minute statement.

National Seniors has joined with several other groups to form the Alliance for a Fairer Retirement System to boost our advocacy efforts to improve the retirement income system. 

Find out more about our campaign here.


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