’Epic’ loss of franking credits in tax plan
Institutional investors and superannuation funds face franking credit losses of "epic proportions" unless the government deals with the adverse effect of the interplay between a lower corporate tax rate and dividend imputation, experts warn.
The problem arises because under the Enterprise Tax Plan, tax is payable on a company’s current-year turnover, whereas franking is based on the past year’s turnover.
Read the full article on the Australian Financial Review.
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