Geoff Wilson, the de facto leader of the campaign to kill off Labor’s so called “retiree tax”, has claimed victory after the party said it would not take any changes to franking credits to the next election.
Labor went to the 2019 election promising to scrap refunds for excess franking credits, resulting in a significant backlash from retiree investors.
A veteran fund manager with about $3.5 billion under management, Mr Wilson launched a campaign against the change, saying it moved the goal post for tens of thousands of retirees who get the refunds.
Read more in the Australian Financial Review.