Frank(ing) and fearless
Fund manager Geoff Wilson famously led the charge against a proposal from Bill Shorten to change the franking credits system. Now he's preparing for a new fight.
Australia’s dividend imputation system may be convoluted. But embedded within it is a worthy principle: that profits should not be taxed twice. That's important to keep in mind as one of the biggest defenders of this system, fund manager Geoff Wilson, primes himself for another political fight over it.
Wilson spoke to our economics correspondent Jennifer Duke in an interview published today and made it clear he is willing to fight tooth and nail again on the issue, as the government ponders new legislation to change the franking credits system.
“We will fight even harder than we did in the lead up to the 2019 election on this,” Wilson told Duke in the interview. “We will take it to the next election and the one after.”
Wilson famously led the charge against a proposal from Bill Shorten to eliminate refunds paid to people (mostly retirees) for excess franking credits, an issue many believe contributed to Labor’s unexpected loss in that campaign.
