Franking credits are worth about $30 billion per year in Australia. About $10 billion go to households and another $10 billion go to superannuation funds, trusts and charities. The remaining $10 billion go to other Australian companies.

The international evidence shows that Australia is extremely generous when it comes to franking credits. But which are Australians is the government being generous to? NATSEM have modelled for The Australia Institute the amount and distribution of franking credits, revealing that they flow overwhelmingly to very high income earning households.