We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Why Bowen's franking credit numbers don't stack up

2 0 0
25.04.2019

Taxation will be a dominant issue in the election and Labor’s policy to ban the refund of franking credits is one of the main topics.

Now, I appreciate that there are different views on this policy but surely electors are entitled to some honesty in the debate.

Shadow treasurer Chris Bowen has defended Labor's proposed changes to franking credits. Credit:Alex Ellinghausen

Just last week, shadow treasurer Chris Bowen was quoted as saying: “Think about a hard-working nurse who earns $67,000 a year – we make her pay $13,000 in tax.

"Yet a retired shareholder who receives $67,000 in income is charged zero tax and, on top of that, expects the government to write them a cheque for $27,000. That is not okay.”

However, Bowen's figures simply do not stack up.

First, think about the nurse. Her tax bill would be $14,662 ($13,322........

© The Age