Franking credit refunds PBO estimates in doubt, page-10

Yep I agree.

While I don't think pension outflows should be taxed, it would be more equitable if they do want to help the budget and penalise the ''rich''.

Based on the current proposal the only ones to lose their franking credits will be the ones that cant pay for advice to exploit the loopholes. Labor would be aware of the loopholes, but the loopholes suit them so they wont be closed.