Labor to axe cash refunds for wealthy investors, page-223

Hi Baxter

"Yes..Trusts pay no tax providing they distribute ALL earnings....if they retain earnings they pay 30% company tax...
Yes..the imputation system was to capture the tax once ....ie not double taxation to the individual"

Exactly, you fully understand this. So if a company pays tax and individuals get it all back, it is not double taxation. It is Zero tax being paid on Company Profits! What are we fighting about? Do we want to collect tax on company profits or not?

Pear