Correct, as funds like BT, Macquarie and the industry funds...

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    Correct, as funds like BT, Macquarie and the industry funds report as one entity whether you are in accumulation phase or pension phase. The entire entity is net-tax paying so franking credits will still be realised.

    Would be very easy to tailor the legislation to stop this but they wont do it as it will funnel more money to industry funds (with no actual saving for the budget).
 
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