I refer to Paul Rumpf’s letter (MN 16 April) about Bill ‘Short-on’ Shorten’s plan to remove franking credits.
I am not sure how he came about his views.
First of all, franking credits will NOT be removed. What the opposition Labor party proposes is to end cash refunds on excess imputation credits.
Secondly, all pensioners or part pensioners would be exempt from this policy on cash refunds.
“Every recipient of an Australian Government pension or allowance with individual shareholdings will still be able to benefit from cash refunds. This includes individuals receiving the Age Pension, Disability Support Pension, Carer Payment, Parenting Payment, Newstart and Sickness Allowance.”
Mr Rumpf’s fears that pensioners would be badly affected by this policy are misplaced.
Perhaps Mr Rumpf has been poorly advised on the implications of this policy by someone ‘short-on’ the facts.