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With all the nervous energy flying around, you’d think something big was happening this weekend. And of course, there is.
With a Federal election due by the end of May this year, and the Coalition Party behind in the polls, the Labor Party’s (ALP) policy to abolish the refund of excess dividend franking credits for many taxpayers, including many SMSFs, is a topic of great interest. To help demystify the topic a little we have outlined the history of dividend franking in Australia and detailed the ALP’s proposal.