Why large discount to NTA?, page-22

(without butting in)
the LIC capital gain bloke is talkin about is a tax deduction for the shareholder to use in their tax return associated with the income they rec'd from the coy. Different tax entities can claim a certain % of the deduction figure given to the shareholder. example, if the LIC capital gain on a dividend statement was recorded as $10, then the tax entity can claim a deduction for some of this $10 (50% is the allowed for individuals - so a $5 tax deduction for jam). It is an occasional thing - not every dividend payment has this deduction attached.

the point is that if a shareholder did NOT get income from the coy (cos DSSP was used) then they do not get the LIC capital gain deduction (cos the tax deduction is attached to the taxable dividend income amount). basically it lowers the amount of income u got from a taxation viewpoint (but u still get the money in the bank)

hope u can make sense of that, cheers.