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Janet Albrechtsen: Labor is reverting to ‘old nasty system’ with tax plan

Smithy’s All-Star Janet Albrechtsen has slammed the Opposition’s new tax policy which will axe tax refunds on share investments.

She tells Chris Smith “it’s crazy”.

“In 1987 the Hawk government introduced what we call dividend imputation which meant that you didn’t pay tax twice on income.

“But that then only applied to people who had an income, so then what the Howard government did was say, well, we’re not going to discriminate against poorer people who can’t offset against an income, so you can claim the dividend imputation as cash.”

She said the tax was originally put in place “to help poor people”.

“I mean, it couldn’t have been fairer.”

“So what Labor are doing are basically going back to the old nasty system of double taxation, so they can fill up their coffers and then throw money like confetti come the election.”

Listen to the full interview below