Labor to scrap franking credit refund...This will be front page news today...., page-132

no of coursenot! that is the basic rate for the pension, and I was saying that because someone who gets more than the pension wants the cash gift from the ATO to top up. the same person was saying they would get rid of their wealth and go on a pension... tis all... I would say that anyone who has around about 50k per year without any income tax liabilities and own their own home is fairly ok in our society, maybe not a flash income or lifestyle but I know that mine is very sweet indeed, but I do go by the old saying, I prefer to eat baked beans 6 nights a week and lobster on sunday, rather than eat steak 7nights a week. it has worked for me and have never felt like I have missed out. (plenty of os travel, a nice little car and more than baked beans every night cos i have a veggie garden!!)
ps if anyone thinkd they can just cash in their wealth to get aged pension has never been in contact with centrelink!! well not in the last few years anyway..