I have not ridiculed Franking credits. They are great. You avoid double taxation. What I am ridiculing is excessive credits being returned by the ATO in cash. That is the rort that Howard and Costello gifted the wealthy.
It puts a huge strains on the revenue side of the budget.
Unfortunately these cretins in power have refused to address it now, but some time in the future, as the deficit keeps growing they will abolish it all together, as most other countries that had it have done. So we will be back to double taxation on dividends.
