My mistake above in saying it is reducing income to 0. I meant to say it should be tax payable to 0.
I assume we will return to the Keating model where a dividend plus its credit will be added to your income (marginal rate dollars), but that the imputation credit will be deducted from your tax payable (full tax dollars). Useful if you're on a marginal tax rate less than 30%.
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My mistake above in saying it is reducing income to 0. I meant...
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