Sorry, I am not Radicool. But I will try the exercise. However, your reasoning appears correct to me. However, because of the earnings of only $32,000 and because she is of pensionable age, she should be able to access 100% of SATO and a low income rebate. The below is from the calculator below, for current financial year.
www.taxcalc.com.au/1819.html
Column 1 Column 2 0 Base income: $32000.00 1 Tax on income: $2622.00 2 Medicare Levy: $0.00 3 SAPTO: $(2230.00) 4 Low Income Tax Offset: $(392.00) 5 Total tax: $0.00
Given she has no tax liability, she would otherwise have received that $13,700 in unused franking credits as a return. This represents 30%, viz 13,700/45,700. Hence, this widow would lose 30% of her yearly net income.
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Labor's Grandma Tax, page-12
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