Unexpected flow-on effects of franking credit removal

Website SMSF Adviser has highlighted some of the hidden impacts removal of franking credits could have for retirees in a recent article.

According to the Tax Institute, the interplay of the denial of excess franking credits with other taxes, levies and benefits has been largely overlooked in the current debate about the ALP policy.

Tax Institute senior tax counsel Professor Robert Deutsch said some retirees now exempt from the Medicare levy could find themselves paying it under the proposed policy.

Read the full article at SMSF Adviser.

Exciting member benefit - new online store!

Receive a worthwhile 15% member discount in our new online store - great gifts for friends and family and after shopping, please let us know what you'd like to see in the store in the future. Our aim is to provide a diverse range suitable for all life stages.

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