OT @cutty "Others will try to emphasise the loss/reductIon in frankIng credits. Biggest myth goIng around. UltImately you either receive more in the hand and pay more tax or receive less and pay less tax. Either way the same tax is paid and you receive the same".
not sure if i have misinterpreted that part of ur post ........but based upon what is known about the proposed policy the credits will still be included in the assessable income just as if you got the credits in the hand (that is, part of the grossed up figure). But some will not then get the refund based on taxable income ....so they will be assessed as having got the money in their hand but will never get to see it in the pocket.
These people will receive less money than they do now.
