Radicool - I have just read this post from you. Shorten's new policy will indeed prevent a cheque for your wife's share holdings which pay franked dividends and have, in the past been returned to you, will no longer happen. ZILCH, ZERO. ZIPPO.
Personally, I have used the franking credits to pay my tax bill and received a small cheque of unused credits. I will lose that.
I also have annuities which contain top 300 companies (that is what I am permitted to hold) and most of these pay franked dividends. I would lose quite a sizeable amount as a result because these cannot be credited to the annuity as they have been in the past. It would pay me to have my annuities paid out to me and use it to upgrade my house, with the balance used in my own name to work at reducing the recorded losses in my name from the share market capital losses. I am gradually reducing these but could accelerate the process with greater funds.
I didn't need to pay an accountant to work that out, either. lol
