Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The Labor policy went on to say, 'This reform will benefit many low-income retired Australians, including full rate pensioners, who are otherwise not embraced by the taxation system. Many thousands of pensioners, who have modest investments in public companies, currently obtain no tax benefit from the franked dividends they receive. The full value of these credits will now flow through to the pensioner shareholders. In addition, the reforms will ensure that investors, who currently pay little or no tax, will not be unfairly disadvantaged.' That was Labor's policy then. It was also the coalition's policy. The reform was legislated with bipartisan support in 2000. What was an act of compassion and fairness—

Ms Butler interjecting—

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