Concetta Fierravanti-Wells (NSW, Liberal Party, Minister for International Development and the Pacific) Share this | Hansard source

Senator Wong, quite frankly, you guys on the other side would come up with anything, given the tax hole that you have now dug yourself and given the six years of fiscal vandalism. My point was this, Senator Wong: you have basically declared war on pensioners and retirees, many of whom will be thousands and thousands of dollars worse off, and you plan, as Senator Cormann said today, to double-tax pensioners and retirees in a bid to bail yourselves out of the budget black hole that you cannot pay for. The latest invention: more than half of all refunded franking credits are paid to individuals who earn less than the $18,200 tax-free threshold, including pensioners and self-funded retirees—97 per cent—