I think you should search the policies and read it and interpret it yourself but the it mainly suggest reducing the capital gains discount from 50% to 25% for tax assessment.
As for franking credits...
https://www.google.com.au/amp/s/amp.smh.com.au/money/tax/real-victims-of-labor-s-dividend-tax-policy-are-not-average-joannes-20181122-p50ho7.html
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