SCOA Australia’s President, Peter Illidge, has called on Opposition Leader Bill Shorten to reconsider Labor’s policy regarding dividend imputation credits announced last week.

“Our members are hardly fat cats; meny have pensions of $40,000 or below. If they receive a fully franked dividend of say $1,000, they would currently receive a refund from the ATO of franking credits worth $428. The loss of $428 is quite significant to low income pensioners”.

“Our defined benefit pensioners do not deserve to be targeted in this way”, said Peter Illidge.

Read Peter Illidge’s letter to Bill Shorten here.

Read the Media Release here