Ut it is... Until u take it as a divendend to spend .. Keep it in the company and it's taxed at 30%. Get a dividend to spend its taxed at your marginal rate with franking credits. That's our system.
Personally I think that company and top tax bracket should be the same. Would eliminate the benefits of co and trusts( at least from a tax point of view.. Perhaps not asset protection) over night. Problem would be that maybe if they were the same the couldn't be 30% but would perhaps even up some playing fields too.
