Seems to me that the Shadow Treasurer's office has given you possibly false information, perhaps unintentionally. Does anyone really know what Shorten intends other than to grab a huge chunk of franking credits from retirees, be they pensioners or self-funded?
I clearly remember Shorten saying that he would grandfather franking credits for those who were receiving (and since continued to receive) a government pension as at 28 March 2018, the date of the announcement. This extended to SMSFs in which at least one member was a government pension recipient. However, those who subsequently lost their government pension would also lose their entitlement to franking credits.
The only answer you should accept needs to be in writing, and even then Shorten and his cohort would not be bound by it.
Cantankerous James
