Libs misfire with retiree attack ad
The Liberals have been caught red-handed using one of their own spin doctors in an attack ad on Labor’s policy to end cash refunds for franking credits.
The ad stars ‘Jim’ who poses as an ordinary voter worried about Labor’s plan. But The Age reports that the man in the advertisement is Jim Bonner, a devoted servant of the Liberal Party for over 40 years.
Mr Bonner's history with the Liberal Party stretches back to his stint as a press secretary for prime minister Malcolm Fraser in the early 1980s. He went on to hold senior positions with the ABC before returning to Liberal ranks, eventually becoming South Australia state director of the party from 1998 to 2001.
His other roles have included press secretary for South Australian premier Dean Brown and federal defence minister Ian McLachlan in the 1990s, media liaison for multiple federal Coalition election campaigns and, recently, as a staffer for Liberal cabinet minister Simon Birmingham.
The Liberals are continuing to be hurt by their attacks on Labor’s policy after it was recently revealed that a lobby group posing as a grassroots organisation campaigning against the policy was actually a network of professional lobbyists involved with the Liberal Party.
Liberal MP Tim Wilson has also faced criticism for holding tax-payer funded inquiries into the policy that do not follow parliamentary rules.
Oh, yes indeed they are.
And so are some of those retirees posing as disadvantaged people to continue the franking credits scam.
If they want to stop double taxation they could be trying to get rid of the GST which taxes us again on our already taxed income every time we spend a penny of it, but no, they get most advantage from their well-off persons' scam.
They are the most crooked and corrupt party in Australia. Lock the lot up. I bet they lie in church too.
Yes. Caught out for the crooks they are. What else is new.
Yes such a pity they couldnt find a Labor person to do the ad. But I dont understand why that could in any way make the Bowen/Shorten discriminiatory Franking Credit tax acceptable?
It was further revealed yesterday that the tax is expected to have a negative impact on 1.3M Australians, most of whom are retirees. When it comes to retirees does YLC differentiate in any way?
Doesn't worry me, you must have too much money Adrianus.
Greg, you're thinking like Bill Shorten and Chris Bowen. This issue is not about me. It's about the AUSSIE FAIR GO. Its about A FAIR SHAKE OF THE SAUCE BOTTLE.
Greg, you're thinking like Bill Shorten and Chris Bowen. This issue is not about me. It's about the AUSSIE FAIR GO. Its about A FAIR SHAKE OF THE SAUCE BOTTLE.
Ha ha ha ha....
Good attempt to wiggle out by changing the subject again LNP troll Adrianus. Caught out.
The crooked crooked Liberal Party and its American sponsor at it again. Lies on lies on lies....and they want to convince voters they deserve to govern the country? Better to find somebody in prison whose crimes are few compared to the this lot.
Bring on the election. The stench is almost unbearable.
Smells like a scam, looks like a scam. A Howard era tax rort for his chummies. Getting tax back on tax not paid?
The company's employees paid the tax on behalf of the owners. You either have the imputation system or you dont have it. Why single out low income earners?
The Labor party supported the franking credit legislation in 2000 when it was passed.
A week ago I posted this on the Main Forum because I was amazed at the number of people who had no idea how imputation credits (franking credits) work. Those that know are deliberately behaving in an obtuse manner purely for their own self interest.
When you buy shares, you’re buying a share of the company’s assets and its profits. In fact (and in law), you’re a part owner of the company..so far so good.
Companies that have made a PROFIT can do one of two things with the excess cash. They can either take that money and reinvest it..or..they can take the excess funds and divide it among the shareholders in the form of a dividend.
If the company chooses to do the latter..(i.e. pay out dividends)..the earnings are taxed TWICE by the government..this is because of the transfer of the money from the company to the shareholders. This appears to be the point some seem unable to grasp (or refuse to grasp) and hence the confusion.
To explain a bit further..the FIRST taxation is at the end of the financial year when the company must pay taxes on its earnings. The SECOND part of the exercise comes when the shareholders receive the dividends which come from the company's AFTER TAX earnings.
To explain even further…the shareholders pay taxes first as owners of a company that brings in earnings.. and.. then again as individuals, who must pay income taxes on their own PERSONAL dividend earnings.
It’s not hard at all to understand…
My personal opinion is:
The wealthy should not be receiving this tax benefit.
The pensioners are exempt which is good.
The SFRs who are just on the border line should be given the same treatment as the pensioners.
No..I am not a Labor supporter..however.. if a policy is worthwhile, I see no harm in backing it.
You do more damage to the Liberals than even Scott Morrison.People only have to see your idiotic posts to realise how ignorant far right Liberals are. You are playing right into the hands of Labor..and I must say.. I don't see Labor voters acting as mindless as you.
Sophie, you werent a school teacher by any chance?
I can understand why people say their education starts when they leave school. :)
Sorry for my post sounding so acute, but your post shows a lack of understanding of the imputation system. People get taxed by the ATO not the government and nobody gets taxed twice, that's why we have the Franking Credits. However, Shorten and Bowen want Franking Credits for low income earners disregarded. Its a long way out from the election so more people will get it closer to May.
sophie - I often disagree with your point of view but I have to support you against two of the LNP trolls here. Ignore the (laughable) crap. Their intention is to smear any who oppose their employer and put down anybody who posts anything factual against their employer. Trolls! Little more. They have no credibility on this website.
I'm on to them MICK..
They all use spin doctors.... my biggest concern is what they don't discuss prior to an election and then suddenly find to be of earth-shattering importance... LNP will, of course, view pensioners and reitrees as a huge burden onthe Budget... Labor is sure, rather than imposing strict rules on the Star chambers in universities before which young men will be dragged under the mythical 'culture of rape', to upgrade funding for those Star Chambers and further erode civil and legal rights as they've been doing for decades now to suit the boutique whine and dine crowd.
Wait for the usual Black Hole of Budget - no matter which of the majors gets in.... meaning they can't uphold non-core promises... but always plenty for their pet ideas and myths .... no matter how damaging to the Silenced Majority...
Agree TREBOR. They promise/lie before and then change their minds after.....with the routine 'things are different' lie of convenience. Corrupt in every case with no way of chucking them out until the next election.
VOTERS WHO HAVE FORGOTTEN - please remember Abbott's (many) election lies. Promises shredded day after the election. Remember Turnbull and his tax cuts for the wealthy + his offshore tax havens where his interests, those of other rich Australians and multinationals laundered their taxable income. Remember Morrison with his lump of coal in the parliament and his now familiar lying electioneering.
I suspect we've all had enough.
The fact of the matter is labor's franking credit policy discriminates against modest SFR's
Doesnt matter who says it - fact is fact
Are you a parrot or something? Can't address the issues at hand so trying to change the subject? Not working.
Please do not insult the parrot, he is the parrot's bottom.
This is an opinion piece supposedly from a member of lifechoices.com. He sounds more like a labor party hack, using their usual sneaky way of pushing false info to the electorate. REMEMBER the Mediscare campaign of the last election.
And remember the attack on GetUp the week before? Of course you did not mention that. Trolls never do!
Doesn't make the case against the Labor policy any less pertinent though does it?
And frankly Labor has its own track record of using Labor hacks to decry Liberal labour policy. Remember the Tradie ads that turned out to be Labor activists who had never held a tool in their life?
Can't address the story at hand so you do what trolls all do: change the subject. Wasting your time.
Sunject addressed in the first sentence! And then referring to when Labor did the same thing - still on topic. Read again MICK. You just don't like it when Labor is caught out calling the kettle black.
You are the Labor troll yet again not reading what people write, just responding with your usual knee jerk reaction - bit of a Pavlov dog really.
KSS: In the lies stakes, Labor pales into insignificance compared with your beloved nefarious Li(e)berals.
Do two wrongs make a right all of a sudden. It is the same as saying action number two is not as bad as action number one, therefore action number two is good.
Yes your honour, I did hit that little old lady over the head with a stick, but that bloke over there used a 10 kilo stick, I only used a 5 kilo stick, therefore I am good, he is bad.
You can not eradicate your bad behaviour by pointing out someone elses, what you did was and still is bad.
Having said that, this bloke is entitled to support his party, just as all of us are entitled to support ours, judge the content not the person who made the comment.
I am a SFR and will be discrimated against by removal of the franking credits. However there seems no limit to the stupidity, shortsightedness & greed of the current government and it has to be removed in the coming election. I also hope for an indendant senate to be elected in order to provide stability. cheers
Next one eh? Go cry BS to somebody who is mentally challenged. The story is about THE GOVERNMENT and no matter how many troll comments come IT IS ABOUT THE GOVERNMENT. The dirt is almost limitless and the above story is but one of many. Most well hidden.
I will be affected by Labors policy, but it is a fact of life, governments make changes and people are affected, I will just change my investment strategy to suit the new conditions. The adverse effects of the current government far outweigh anything that the Labor proposals have so far indicated.
I will not be voting for Bill Shoreton or the other bloke, I will be voting about policy not the personality of one person who may not even see out a full term and seems to have little say about party policy.
Removal of franking credits is another tax grab by Labor. As previoiusly stated Companies pay tax on the earning and again of the dividends that go to the owners (Shareholders) who are then taxed as part of thier income. SFR's are taxed again as well. Fortunately I am not either on a pensions nor Self Funded Retiree at the moment so this would not affect me very much. Yes I do hold some shares which have franking credits, but not many, but also pay tax again on the dividend even though the franking tax has already been paid. As far as the Liberals are concerned they are no different to Labor when the have adverts but unlike Labor they do not pay funds into GetUp who last electioin ran a scare campaign regarding Medicare. My neighboyrurs who were both i their late eightees were called at midnight by GetUp and Labor both telling them that Medicare was being dismantled should the Liberals get in. This I found discusting but the local member, who was elected for the first time, is a Labor member who had nothing to say about this when questiioned by the press.
The removal of franking credits is a third tax on the same income and anyone who cannot see this is obviously blind.
Changing the subject to Labor. All your mates above have done the same. The LNP must be really worried to put so many of their attack dogs onto this website. Not working!
Mick, the ignorant Lieberal trolls here obviously know nothing about the tu-quoque fallacy.
Removal of franking credits is another tax grab by Labor. As previoiusly stated Companies pay tax on the earning and again of the dividends that go to the owners (Shareholders) who are then taxed as part of thier income. SFR's are taxed again as well. Fortunately I am not either on a pensions nor Self Funded Retiree at the moment so this would not affect me very much. Yes I do hold some shares which have franking credits, but not many, but also pay tax again on the dividend even though the franking tax has already been paid. As far as the Liberals are concerned they are no different to Labor when the have adverts but unlike Labor they do not pay funds into GetUp who last electioin ran a scare campaign regarding Medicare. My neighboyrurs who were both i their late eightees were called at midnight by GetUp and Labor both telling them that Medicare was being dismantled should the Liberals get in. This I found discusting but the local member, who was elected for the first time, is a Labor member who had nothing to say about this when questiioned by the press.
The removal of franking credits is a third tax on the same income and anyone who cannot see this is obviously blind.
Google "tu-quoque fallacy", because you just committed it.
A misguided poster wrote (in blue below)
If the company chooses to do the latter..(i.e. pay out dividends)..the earnings are taxed TWICE by the government..this is because of the transfer of the money from the company to the shareholders. This appears to be the point some seem unable to grasp (or refuse to grasp) and hence the confusion.
WRONG !!!
Profits are taxed, not dividends . Dividends can be paid out of taxed reatined earnings or untaxed retianed earnings
The poor poster is the one who is confused
Also there is no taxing TWICE !!!
To explain a bit further..the FIRST taxation is at the end of the financial year when the company must pay taxes on its earnings. The SECOND part of the exercise comes when the shareholders receive the dividends which come from the company's AFTER TAX earnings.
WHAT THE ???? So where is the double tax in that . There is no FIST and SECON TAX., only ant tax paid on the corporations taxable profits for the year
To explain even further…the shareholders pay taxes first as owners of a company that brings in earnings.. and.. then again as individuals, who must pay income taxes on their own PERSONAL dividend earnings.
NOPE - a shareholder pays tax on theur gross taxable income including gross dividends
It’s not hard at all to understand…
No not hard, but that poor poster does not understand at all
My personal opinion is:
The wealthy should not be receiving this tax benefit.
What tax benefit ????- where above did that poster show how anyone was receiving a benefit. Then the poor confused poster goes on to say that the non existent benefit should not be gioven to the wealthy.
What the ????
You must break out in a permanent rash having to be so close to yourself 24 X 7
Have you tried shedding your skin
There you go..just skip the big words!
Yes Sophie, please dont explain even further.
Yes Sophie, please dont explain even further.
But hard when she has no substance Adrianus
lightweight
Hahahaha, the sisters must have made some pretty bad investments that's why they're running scared with their arses on fire.
Never mind Lottie and Aquarius, the pension is not so bad, just become vegetarian, LOL
Colleagues, Lets be like the rest of the world and just end the franking system. There will no longer be any issue in regard to that matter.
cheers
There are different systems around the world, I won’t pretend that I understand most of them, in the UK for instance the first £6000 of earnings from investments are tax free, and shares are generally taxed at source I am not really sure what that means, but I think it means that any dividends that are paid are after tax, we could do the same here, which if my understanding is correct then shareholders would probably get a higher dividend and would be responsible for any tax on earnings, if their earnings fall below the tax free threshold then no tax would be payable, unlike the present system where a company pays tax on their earnings, the investors dividend is smaller, the company tax usually 30% is the franking credit that is included in the dividend notice, but which the investor doesn’t receive, but is included as income on their tax return,which is the reason why at the end of the year if your income falls below the tax free threshold you are entitled to recover the tax that has been paid on your investment, I think it’s about time for a change, just pay the investor his full dividend and let them sort out their own tax liability.
Well the vermin in government federally are not called "Lieberals" for nothing. The only things those inept morons do well is LIE, and look after their rich mates.
Yes believe nothing they tell you -- they lie and lie they are FULL of it