Ann: Update - Dividend/Distribution - TLS, page-18

This is going around in circles. Bill Shorten didnt say he is scrapping Franking credit to retirees. He is stopping the tax gap of no tax paid on that portion paid to retirees who have no tax payable. If retirees has other income still pay taxes the excess franking credit is still available to offset it. Meanwhile there is a tax gap amounting to billions. Looks like retirees are targetted but thats not his intention he just wants to close the tax gap. Perhaps the tax gained might be used to pay for most needed services perhaps benefiting retirees in other ways.

We still dont know what he will do? As politicians promises not usually come to fruition had to pass through many hoops.