On 19 September 2018, the Treasurer, the Hon. Josh Frydenberg MP, asked the House of Representatives Standing Committee on Economics (Committee) to hold an inquiry into the implications of removing refundable franking credits.

The terms of reference for the Committee’s inquiry will include analysing who currently receives franking credits, their uses and benefits in supporting tax principles, and the potential impact of removing the refundable franking credit regime having regard to the implications for investors. A particular focus of the enquiry will be the impact on retirees’ financial security where they have made long term retirement savings decisions based on their ability to claim refundable franking credits.

The Committee invites interested persons and organisations to make submissions by 2 November 2018.

Submissions can be made online or by emailing economics.reps@aph.gov.au.