26th Mar 2018, 3:55 PM – Senate Motions - Dividend Imputation - Low income pensioners

The majority voted against this motion, which means it failed.

Motion text

That the Senate—

(a) notes that:

(i) the Australian Labor Party has announced its intention to reform cash refunds for excess dividend imputation credits, an idea first proposed by the Australian Greens,

(ii) this policy will predominantly impact on wealthy individuals and, if done properly, will reduce inequality, and

(iii) since making this announcement, the Australian Labor Party has:

(A) refused to release the Parliamentary Budget Office costing of their policy, and

(B) effectively conceded that they had not properly accounted for the impact of their policy on pensioners, with the Leader of the Opposition saying they will have “more to say about this”; and

(b) calls on all parties, especially those who say they are committed to progressive taxation, to ensure that this measure will not impact on low income pensioners with few assets.