Ann: Update - Dividend/Distribution - TLS, page-24

Exactly the case. You would get franking credits offset by your income, no matter what happens. Shortens policy prevents the frauds who have no income, getting 'offset' rebates. Most of these "no income" self funded retirees who are crying poor, are doing so based on multiple tax loopholes that mean they are getting an income, but "hiding" it through other loophole tax offsets, to appear as though their income is negligible or below threshhold. To then get a tax rebate is criminal. That tax rebate not offset by income is a.) tax not paid, and b.) a rebate from the goverment, coming out of other taxpayers tax payments. Criminal, scummy and frankly, disgusting. Shorten wants to close that loophole. That is admirable. Those of you screaming unfairness should be ashamed of yourselves.