Let's say my super is in pension mode and I earn 50k - no tax. That's fine.
I also own a rental property. The rent (gross income) brings me 18k which is tax free. There are no deductions because I do not pay tax as this begins at 18k.
However if I owned shares and the net dividend and franking credit (gross income combined) are 18k but I would only get around 14k. The tax has already been paid by the company but as I am allowed up to 18k tax free shouldn't that franking credit be mine also?
Currently it is but when Bill comes in it isn't. Better off owning property - new buildings at least!
