TO BE FRANK, WHAT DOES IT MEAN FOR YOU

• Of the 25 million population, 17 per cent or around 3.6 million are retirees over the age of 45 as at December 2017. Over a third (34 per cent) are self-funding and one half are over 70.

• Estimated by the Parliamentary Budget Office that over 1.2m Australian taxpayers will be impacted by the ALP policy.

• Retail investors make up 9299 per cent of shareholdings on the register of companies such as Telstra, AMP, IAG, BHP and the major banks.

• About 70 per cent of taxpayers over the age of 75 receive franking credits, with an average value of $6347.

• Most retirees with a SMSF will be adversely affected. The median franking credit rebate for SMSFS is $5100.

• Consequently a retiree on a full age pension with $300,000 in retirement savings will receive a significantly greater income than a retiree with an SMSF who has saved $1m for retirement.