Re the franking credits - if you are in pension mode in your...

Re the franking credits - if you are in pension mode in your superfund (pay no tax) it is going to hurt the smaller funds (say less than $500,000) the most as it is a bigger % of what your fund earns. If you are an SMSF the drop in income will be obvious to you, if your fund is managed by a larger fund, you may not notice but you will still be losing. Anyone with an SMSF and still eligible for a part aged pension will be the worst off. The unintended consequences may be that some people commute part of their superfund, spend the money and go on a full pension. Bill and his advisers are dunces.