Tax on retirees, page-20

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    Except that addition $21,400 is added to your taxable income, tax calculated and if your marginal tax is more than 30%, then you need to pay the difference to the tax man.
    If it is less than 30%, you will get the difference between the two refunded.
    Currently, if your marginal tax is 0%, then your imputation credits (franking) will be refunded to you by the tax man.
 
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