Proposal to abolish refundability of Franking Credits, page-312

According to Australian Taxation Office data, more than 900,000 individuals, 200,000 self-managed super funds and 2000 super funds will be hit by Labor’s policy.

good grief it gets worse...

( SMSFs can have up to 4 members)...so up to MAXimum 800,000 self funded retirees...the media reports 700,000 self funded RETIREES

then add in family members ( losing a portion of their inheritance and some living expenses via retirees )

yep its getting worse....thats certainly more than 56,000 folk....eh blastsonic