That is true. I was just keeping it simple. Similarly, one can keep money in one's own name and get cash refund of used portion of franking credits not used to pay tax owed. In one's own name what is about $21,000 which can be earned tax free and then tax at 19 cents up to $37,000.
Labor to scrap franking credit refund...This will be front page news today...., page-84
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