Damn pity they were called that - makes it sound like a "free" credit to the recipient.
1. Example; you own property. Rent is paid to you. Collected (for example) by the rental agent. Tax withheld = Nil Full rent earned paid to you monthly.
2. Example; you own bonds or a a term deposit. interest is paid to you. Tax withheld (provided you have an TFN) = Nil Full interest earned paid to you as required.
3. Example; you own (part) of a company. Dividends (profit) are paid to you. Tax withheld = 30%. Only 70% of the profit paid to you.
Can you see the difference?
Companies hold back 30% which is refunded (or not) to individual taxpayers, depending on their individual tax liability.
Ultimately it is no different to owning property or bonds. But Labor (and their mates) makes it sound like you are somehow getting a "free ride"
