Hi peterpanned, Without committing to an answer because I don't...

Hi peterpanned,

Without committing to an answer because I don't know all your circumstances, I will say that tax deferred amounts are generally not assessable income so do not need to be included in any income thresholds. Tax deferred amounts affect cost base and reduced cost base for capital gains purposes. The ATO website has really good guidance for that in the Personal investors guide to capital gains tax 2017, so may be useful.

This answers your second question in that a person who's assessable income is below the lodgement threshold need not lodge, and could potentially claim back their franking credits on a separate form.

I stress that you shouldn't rely on this; either read the ATO website which has it all, or pay someone.

Cheers.