No. There was never any hint of a plan to do anything to franking credits. Only to cancel franking credit refunds which is an indefensible rort, regardless of how much personal benefit I hope to gain from it when I retire soon.
Franking credits is designed to prevent double-taxing of company profits.
If the dividend recipient pays no tax the dividend isn't being double-taxed!
Therefore there is no argument that can justify refunding unused franking credits.
FMG’s Special Dividend: a Political Move?, page-6
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