Labor to scrap franking credit refund...This will be front page news today...., page-218

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    So you're talking about cash refunds.

    This principle could logically be extended to PAYG taxpayers- they get their tax refunds in credits that can be used to pay their obligations to the Commonwealth. No obligations, the credits are useless and the funds revert to the Commonwealth.

    In reality the current Labor proposal will never become law because its inherent inequalities will never get Senate approval.
 
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