Consultation
Protecting the Corporate Tax base from Erosion and Loopholes - Preventing 'Dividend Washing'
Name
Mr brian bolton
Organisation
Email
bbolton1@gmail.com
Are you submitting on behalf of your Company
No
Do you want your submission to be confidential
No
Accessibility Statement
Yes
Submission files
Support files
Submission text
Since companies only pay dividends to shareholders on their registers at the relevant date, one has to wonder why there is a need for any legislative change to fix the reported problem of doubling up on franking credits attached to those dividends. 

Greed has once again raised its ugly head and the solution recommended involves legislation changes that, even before they are formulated, present some observers with concerns regarding potential avoidance measures (AF NEW, Katie Walsh, 4/6/13). 

It would seem to this very simple reader that the ATO's income checking software would be the appropriate place to disallow duplicate claims- i.e only the shareholder actually paid a dividend is the person able to claim any imputation credit; everyone else dips out.