She will not lose anything because she will change her investment strategy. They all will. Another poster here has assured me that Labor will not raise any additional tax from this taxation change. I don't believe it but there you go. Lets take Janet, she is retired with a superannuation fund holding $1.2 million in shares. Janet receives $72,000 in franked dividends. Janet pays no income tax on that. She then collects a tax refund of $14,000 to bring her total tax free income to $86,000. Under Labor's plan Janet will lose her tax refund reducing her total tax free income to just $72,000. Poor Janet.
