Essential Report

Dividend imputation

Dec 4, 2018

Q. When companies pay dividends to Australian shareholders out of after-tax profit, shareholders receive franking credits, which they can claim as a tax deduction. If the shareholder does not pay any tax, they receive a cash refund from the tax office. This system is known as “dividend imputation” and these cash payments cost the Government about $8 billion per year. The Labor Party has proposed to end the cash refunds for imputation credits. Taxpayers will still be able to claim a tax deduction. Do you support or oppose ending the cash refunds?

Total Vote Labor Vote Lib/Nat Vote Greens Vote other
Total support 39%         50%         32%         49%         40%       
Total oppose 30%         22%         44%         21%         35%       
Strongly support 15% 22% 9% 19% 16%
Support 25% 29% 23% 30% 24%
Oppose 16% 15% 21% 14% 16%
Strongly oppose 14% 7% 24% 7% 19%
Don’t know 31% 28% 24% 30% 25%

Those most likely to support ending the cash refunds for imputation credits are aged under 34 (54%), Labor voters (50%), Greens voters (49%), full-time workers (46%), those with a household income of over $78,000 (48%) and those who are university educated (46%).

Those who are most likely to oppose the idea are aged over 55 (42%) and Coalition voters (44%).


Read Essential's ongoing research on the public response to Covid-19.

Sign up for updates

Receive the Essential Report in your inbox.
  • This field is for validation purposes and should be left unchanged.