OK, so we are agreed that Labor won't make any money from SMSFs paying pensions because people will exit them, either since they are already receiving a pension or when they change to receiving a pension, which means a huge amount of work for nothing sooner or later for any SMSF with a significant amount of franked dividend income. Certainly it's the SMSFs paying pensions that have had their attention attracted to the Parliamentary committee https://www.aph.gov.au/sitecore/content/Home/Parliamentary_Business/Committees/House/Economics/FrankingCredits/Submissions
SMSFs in accumulation may be able to bide their time because they won't forfeit much tax credit but the Labor Party won't be getting much out of them in that case. The alternatives are that a significant amount of tax credits would be forfeited, in which case avoidance activity will occur and additional revenue will be way below estimates based on no reaction, or an insignificant amount of tax credits would be forfeited. Either way the additional revenue collected will be way below what the Labor Party claims and a lot of avoidance work will be done.
