I am not a tax expert. I expect Labor to win next election and...

I am not a tax expert. I expect Labor to win next election and Bull$hit Bill to introduce a variant of his plan to eliminate franking credit refunds. My personal opinion is he will go to the election and say I am saving $x which he will spend buying votes for Labor. Then when the policy is enacted every business, super fund and tax accountant will come with a bunch of different strategies to make sure they do not lose the franking credits.

My prediction is BS Bill will not raise anywhere near as much money as he predicts, but he will spend far more.

I have a self managed super fund and I will be effected by this.I am not currently in the pension phase so his exemption will not apply to me. I will not have enough income to offset against the franking credit. So I will lose the franking credit. Which is a disaster for me. I have spend many years planning and saving for one set of rules only to have them changed. As I am approaching 60 years old I can not see how I can adapt to these new changes in time.

For me the key rules are

1) $18200 tax free threshold

https://www.ato.gov.au/individuals/working/working-as-an-employee/claiming-the-tax-free-threshold/

If I have a rental property or other personal asset to earn more that $18200 and produce assessable income I could use that assessable income to offset the franking credit. The problem is I would need assets greater than those allowed under the assets test rules. So I would lose the pension

https://www.humanservices.gov.au/individuals/enablers/assets#assetstestlimits

2) Income from a taxed free super fund to people over 60 years old is tax free
So the income I receive from my super will be tax free. So I can not claim the franking credit in my personal name and I can not claim it in the SMSF name as I will be retired.

https://www.ato.gov.au/Individuals/Seniors-and-retirees/Super/Taxation-of-super-benefits/

Conclusion
Bull$hit bill is stealing my money. Labor set up super with one set of rules and encouraged me to work and save for my retirement. Now they will penalise me for spending years saving for my retirement.

1) The only way I can see to avoid this is to buy shares in local ASX companies that do  not pay dividends and offer franking credits. Personally I think the number of companies that do this will increase when this law is passed

2) Buy shares in foreign companies that do not pay franked dividends.