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Franking credit recipients ‘already on public purse’, says Shorten

Franking credit recipients ‘already on public purse’, says Shorten

Opposition Leader Bill Shorten has pushed back on suggestions that his franking credits changes will cause self-funded retirees to rely “on the public purse”, noting that they already were by receiving cash refunds under the current regime.

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In an ABC 7.30 interview, Mr Shorten was asked if the proposed changes to franking credits would mean that self-funded retirees like Chris Phillips, who currently receives $9,000 in franking credit refunds out of a $36,000 a year income, would be forced to reply “on the public purse”.