Federal Election 2019 – Time To Think
Greetings. Bob Aldons from Car Business here. I don’t typically comment on politics on my blog. My customers range from left-leaning unionists to very right-wing conservatives. I don’t discriminate with customers and they don’t either.
The Federal Election in 11 days time will probably see a change to Labor (if the polls are correct) or a minority government relying on the support of independents.
One aspect of the Labor Parties election ‘promises’, given that their policies get through a difficult Senate is the Franking Credit discussion.
My mum, 89 this year lost her husband (my dad) almost 4 years ago. When he left us, he’d set up his retirement and consequently her income stream carefully. My dad had been a Labor voter all his life.
My mum is on a part pension and relies on dividend and franking credit income to top up her pension. She’s comfortable, but far from rich.
The franking credit income is about $2500 per year or $50 per week. If a Labor Government is able to get the reversal of franking credits past the Senate, her income will drop and her pension will increase.
The net result from this? My calculations reveal that she’ll drop $20 per week.
Is it fair and reasonable that an 89-year-old pensioner, in the last few years of her life be subject to an income drop?