RadicoolI whole heartedly agree with you comment pasted...

Radicool

I whole heartedly agree with you comment pasted below.
"If that is so, shouldn’t the elitist or materially wealthy part pensioners who receive $1 pension be denied the cash refund, also? "

A significant number of Self funded retirees who have share holdings and cash deposits to the value of just a little over the limit for a part pension actually earn less per year than some one on a full pension. In today's low interest rate environment it is often better to be on an aged pension than to be "looking after yourself financially". Should they spend sufficient of their capital to make themselves eligible for a part pension, thus increasing the social services expenditure for the nation.?

A lot of older and retired citizens are proud to be "looking after themselves" and not being a burden on society. Franking Credit changes will put a lot of people on to the pension if the changes proposed occur.

The Self Funded Retirees in our community are worse off than Aged Pensioners in many respects, just ask them.  I am one of them.

I am hoping that FMG and other companies can find a way to distribute excess franking credits in this FY.