Iron ore price, page-9869

Around the same time as franking credit refunds were introduced, the government also stopped people receiving pensions from super funds from having to include these in their tax returns (for people aged over 60).
So I know of retired people having $10 million invested in super funds, receiving pensions of $500k per annum (tax free), and then getting tax refunds in their super fund over $100k (refund of franking credits as fund is 0% tax rate as members are pensioners). 
And these people in theory could have a small share portfolio in their own name and be on 0% tax rate there, and get refunds as well for franking credits.
In recent times, the government has addressed this to some extent by limiting pensions in super funds to $1.6 million.
These are the wealthiest members in society, not contributing a $1 of income tax, and getting large tax refunds to boot.
In my opinion, the government should have never introduced refund of franking credits. I also don't think pensions should have been made tax free (and not included in pensioner's tax return) . Everyone needs to make a contribution to the Australian tax system, especially the richest people in society (the elderly).