Labor to axe cash refunds for wealthy investors, page-203

So may people don't understand what Labor is proposing.
To understand this, firstly refer to the personal income tax tables:

	Tax Rates 2017-2018
1	Taxable income	Tax on this income
2	Rates
3	$ Zero - $18,200, NIL TAX $18,201 – $37,000	19c for each $1 over $18,200	19%
4	$37,001 – $87 000	$3,572 plus 32.5c for each $1 over $37,000	32.5%
5	$87,001 – $180,000	$19,822 plus 37c for each $1 over $87,000	37%

Just say you don't work, and you don't have any income from any other source, except ​

you earned $18,000.00 per year in income from dividends of companies that you own (shares).  If they are "Franked at 30%" that means tax has been paid on them already at 30%. This actually means that your dividends of  $18,000, are taxed at 30% ($5,400.00 tax) and this tax is paid to the ATO by the company,  and you receive the remaining cheque for $12,600.00. ​

Imagine if the company didn't pay that tax for you? then you would receive $18,000 instead. ​

At the moment, the personal tax tables show that any income an Australian receives should be tax free up until $18,200, and because of this, i​

n the above example, you can claim back the $5,400 tax already paid. ​

Under Labor's new proposal, you can not. ​