I don't think anyone has missed that at all Bowen is still quoting figures from 2014/2015 so he is deliberately missing the point.
I don't think people had much of a problem with the $1.6 m cap because it gave a 5% $80,000 pa was the average Australian income ,the average refund is around $5000 so that means some refunds may go to millionaires but it is disproportionately affects people on small SMSFs balance.
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Labor hypocricy on franking credits exposed, page-15
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