Sign In
Not register? Register Now!
You are here: HomeEssayLiterature & Language
Pages:
1 page/≈550 words
Sources:
No Sources
Level:
APA
Subject:
Literature & Language
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 7.2
Topic:

Labour's Proposed Removal of Franking Credits for SMSF (Essay Sample)

Instructions:

Please make an essay about Labour's Proposed Removal of Franking Credits for SMSF

source..
Content:

Labour's proposed removal of franking credits for SMSF
Intro
Australia is amongst the few countries that still maintain a franking system-and to some extent franking cash rebates- despite the numerous flaws it contains. In that regard, the Labor Party decided to put a spotlight on the franking credits through its policy proposal. Such a proposal seems harsh to the SMSF trustees who might be receiving franking credits.
What is a franking credit?
A franking credit is a tax credit linked to shareholders' paid dividends. Franking credits usually offsets the income tax that a company already pays. The main intention for this credits is to avoid double taxation - as a shareholder pays an individual tax rate on profits.
Background of franking credits
The idea of franking credits came into force in 1987 as a way to address the double taxation on dividend issue. In that regard, Australian investors were allowed to claim a certain amount of credit tax share that an Australian company pays for its corporate earnings, and use the claimed credit to offset their tax bill.

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • The Potential to See a Rare Visiting Bird Species
    Description: Bird watching is a popular activity in the U.K. It is deeply rooted in British contemporary culture whereby people even have bird feeding place in their residences. Over the last three decades, the number of non-native birds in the U.K has been on the rise. However, one of the best ways to determine British...
    5 pages/≈1375 words| 1 Source | APA | Literature & Language | Essay |
  • Significant Relationship Between Spending Habits of Bird Watchers to See a Rare Bird
    Description: Bird watching is a popular activity in the U.K. It is deeply rooted in British contemporary culture whereby people even have bird feeding place in their residences. Over the last three decades, the number of non-native birds in the U.K has been on the rise. However, one of the best ways to determine British...
    5 pages/≈1375 words| 1 Source | APA | Literature & Language | Essay |
  • Should People of Different Ethnicities Marry?
    Description: Everyone needs someone to relate with who interests them both intellectually and emotionally that is why there is dating and eventually marriage. Marriage offers one the chance to live with their person of choice, and this has resulted in people marrying in and out of their ethnicity. Marrying out of one’s...
    2 pages/≈550 words| 2 Sources | APA | Literature & Language | Essay |
Need a Custom Essay Written?
First time 15% Discount!