The Meeting Place

Where are my franking credits?

Apparently, some older Australians thought they had more money coming to them as a result of the election result.

This twitter thread described the way many retirees were misled during the last election.

Do you think retirees were tricked into voting for the Morrison government?

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Good to see they kept their franking credits instead of losing them under a Labor government. 

You that voted them in cop it you got what you wanted 

You that voted them in cop it you got what you wanted 

Do you think retirees were tricked into voting for the Morrison government?

Yes, in a way when the media was spouting slogans like "Aussies will get a $1080 tax cut", which in reality meant only some Aussies:
• earning less than $37,000 > up to $255
• between $48,000 and $90,000 > up to $1080
• earning $126,000 or more > scaling down to zero.

I also think some retirees have very little idea about what certain financial terms actually mean e.g. 'franking credits' and the difference between things like 'tax offsets' Vs 'tax cuts'.

 

"I also think some retirees have very little idea about what certain financial terms actually mean e.g. 'franking credits' and the difference between things like 'tax offsets' Vs 'tax cuts'."

I really don't understand that RnR. If a retiree has franking credits, then of course they know what it is. Those who don't know are probably the ones who do not have shares.

As for "tax offsets"..all you have to do is ring up the ATO.'

 

Or Sophie, they have shares that are not fully franked and therefore have no franking credits due.

Are you kiding. Of course voters were conned and the LIberal government are eroding rights left right and centre as any right wing government would. This weeks Q and A showed that when the Liberal minister was asked tricky questions about eroding our freedoms and rights, he did what they all do and replied with a load of waffle and didn't answer the question at all. Everyone who voted Liberal, you are going to get exactly what you deserve.

Smack on Snowflack

Smack on Snowflack

Definitely. The rubbish about a "death tax" and "retiree taxes" for example. All untrue.

Only because Labor didn't win!

 

They were never going to happen. All made-up by the coalition.

The Sense of Entitlement in Australia is unbelievable

... expecting Franking Credits if you have no shares 

I just shake my head.

Expecting franking credits when you don't have a tax liability, the country shakes its head.

expecting Franking Credits if you have no shares is not a sense of entitlement if you, as many duffers did, believe it to be aspirational and a reward for voting Liberal. Regardless, everyone likes a good head shake from time to time and these is just two of those occasions.

10 comments