"https://www.aph.gov.au/Parliamentary_Business/Committees/House/Economics/FrankingCredits">Inquiry into the implications of removing refundable franking credits – Parliament of Australia</A>
Read a few of the submissions from the above inquiry...one of the threads is present retirees will spend their capital on holidays , an updated home , a new car , enough to get an old age pension...Labors policy is disincentive , these steps are drastic as retirees have lost faith in the system of saving .
Some have said the loss of income will mean they will have to spend some of their capital , eventually forcing them onto the old age pension.
One stated that they lost their pension because of the assets test and with the loss of franked credits would be worse off income wise than their next door neighbours on a full old age pension. and no concessions either.
I wonder what the cost of franked credits vs cost of new old age pensioners..!?
I wonder what sort of message this stealth is saying to the millennium generation ?...would they think super is poison? when they finally wake up that one day they will be retirees!!
