Correct Kitty. By keeping the franking credits from pensioners and self funded retirees, the Government is taxing their share of the profits @ 30%. Up to a limit, self funded retirees dont have to pay tax and rightly so, as they get few If any benefIts that pensIoners get. I don't know why they just don't use the $1.6m SuperannuatIon threshhold recently introduced. Below $1.6 million you get the frankIng full credit refund. Above you you get half to ensure you pay 15%. Most wouId accept thIs as fair or is that just to much common sense?
The Labour Party should stop kicking the self funded retirees.
Correct Kitty. By keeping the franking credits from pensioners...
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