Slimy Labor Party claim

The stuff below sounds half reasonable until you realize it is founded on a lie.  Truth and the Left always have a very strained relationship.  The lie is: 

"Why are we the only country in the world who will let people claim an income tax refund when they've paid no income tax in that year?" Mr Shorten told reporters in Brisbane.

But the people concerned HAVE paid tax in the year concerned.  The companies they are invested in have paid tax on their behalf. But they were not liable for tax so the money should be refunded.  The money concerned is a REFUND, not a gift.

And the Labor policy will hit mainly the little guy.  I have a substantial share portfolio so I WILL get the refund.  I will get it as a credit against tax otherwise owed, not in cash.  It is only cash refunds to smaller investors that will be hit.

So why is Labor hitting the little guy whom they allegedly defend?

It's because being a share investor is a pretty strong indicator of not voting Labor.  They are happy to hurt a lot of little guys if it will punish some people who don't vote for them.  Nasty!


Australia will no longer be the only country in the world to give cash handouts to share investors who don't pay tax if Labor wins the next federal election.

Bill Shorten is sticking with his promise to end the lucrative dividend imputation scheme, despite Prime Minister Scott Morrison ramping up his public attacks.

The scheme transfers tax revenue from regular taxpayers and gives it to share investors who have not paid any tax. Australia is the only country in the world to do it.

"Don't believe the lies that say pensioners are immune from it. Pensioners are hit by this as well. Small business owners are hit by this pernicious attack as well," Mr Morrison told reporters in Brisbane on Thursday. "It's not reform, it's a raid."

Labor has already promised to exempt pensioners from the scheme, but Mr Shorten isn't backing away from the change, which will bring in $55 billion over 10 years.

"Why are we the only country in the world who will let people claim an income tax refund when they've paid no income tax in that year?" Mr Shorten told reporters in Brisbane.

"Why do we want to be a country who will spend more on tax concessions and tax subsidies to some people who are already quite comfortable and well off ... than we will on higher education or childcare?"

The scheme cost $550 million in 2001 but is soon to rise to $8 billion a year. Labor is counting on the change to help pay for its election promises.

Home Affairs Minister Peter Dutton called the dividend imputation change a "retiree tax" in an appeal to older voters, but Mr Shorten said older voters didn't just care about share investing.

SOURCE

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