Labor Uncertainties

Many of Labor’s polices are simply announcements of what they intend to do, without detail. For example, as far as I am aware, we don’t know what will happen to losses on negatively geared properties that cannot be offset against current taxable income. Under Keating, they were quarantined to be offset against future income losses from the property. I get the hint that Labor will only allow them to be quarantined to be offset against future capital gains tax from the property but we don’t know. Obviously, the Keating method was more favourable to the landlord than the second method.

Recently a reader highlighted an unanswered question about franking credits. She has a large share portfolio and currently is enjoying a refund of excess franking credits. Her husband is a pensioner, and she is a non-pensioner because she is younger than him. She asked whether a person married to a pensioner would be eligible for a refund franking credits. Good question!

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