Simplify this for me . I'm approaching 65 1/2 and about to start getting a pension, not a part pension but full pension. My wife does not work and is several years younger,ie does not qualify for pension. I have approx $300k in our SMSF, hers does not count of course. Centrelink have already told me I'm under the lower limit and have to get the full pension benefit ($688 per f/ nite). In other words the govt. contends I am not wealthy, Here's the twist, all my assessable assets in super are in shares with fully franked divs, earning a very nice grossed up 9-10%. I think you see where I'm heading, now good old Bill is saying, well done you, however we want approx $7k of that $27 k total you thought you would get from your investments. Now instead of maybe being comfortable on $45 k( pension and investments) we're on $37 k. It most definitely is not simple,everyone's circumstances can be very different. One thing is for certain this does not just target the wealthy,it's every retiree with fully franked shares.
