MP Anthony Albanese gets into heated discussions with callers on The Chris Smith Show over Labor’s plan to get rid of tax refunds from franking credits.

The policy would prevent retirees from receiving tax refunds on their investments.

Mr Albanese tells Chris Smith, “nowhere in the world does this occur and there’s a reason for that.”

“The idea that you get a refund… of your tax when you haven’t paid any tax is not sustainable,” he says.

One caller, Terry, who is an accountant by trade, challenges the policy and gets into a fiery exchange with the MP.

“It’s a complete snow job for people who are in retirement,” Terry says.

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