THE HOUSE of Representatives Standing Committee on Economics will hold public hearings in Queensland for its inquiry into the implications of removing refundable franking credits.
The chair of the committee, Tim Wilson MP, said, "The committee is examining how the removal of refundable franking credits would affect investors, in particular older Australians who have planned for their retirement under the existing rules and whose financial security could be compromised."
Mr Wilson said, "The committee has received well over 1000 submissions, including many from retires who are concerned they will be forced on to the aged pension if the ability to claim a refund on their franking credits is removed.
"These hearings will provide an opportunity for Australians impacted by a change to refundable franking credits to address the committee directly with a three minute statement, and we welcome their contributions and participation," Mr Wilson said.
Public hearing details:
Townsville, 2pm to 3.30pm, Tuesday, 29 January 2019, Pandora Room, Hotel Grand Chancellor, 334 Flinders St, Townsville City, Queensland.
Alexandra Headland, 9am to 10.30am, Wednesday, 30 January 2019, The Bluff Function Room, Alexandra Headland Surf Life Saving Club, 167 Alexandra Parade, Alexandra Headland, Queensland.
Paddington, 2.30pm to 4pm, Wednesday, 30 January 2019, Presentation Room, The Lavalla Centre, 58 Fernberg Rd, Paddington, Queensland.
Eight Mile Plains, 9am to 10.30am, Thursday, 31 January 2019, Central Auditorium, Brisbane Technology Park Conference Centre, 1 Clunies Ross Ct, Eight Mile Plains, Queensland.
Upper Coomera, 2pm to 3.30pm, Thursday, 31 January 2019, Upper Coomera Centre, 90 Reserve Rd, Upper Coomera, Queensland.
Further public hearings will be announced as the inquiry progresses. The hearings will be webcast live (audio only).
A number of submissions have been received and are available on the committee’s webpage at: www.aph.gov.au/economics.
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