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With the next Federal election inevitably occurring sometime next year (possibly in May), it might be a wise time to examine the tax policies that Labor is likely to introduce if it wins the election...
The progressive lowering of company tax rates may have the effect of locking the benefit of any tax paid at a higher rate in the franking account. A company pays tax at a certain rate on the income year and franking debits accrue at that rate in that year...
Labor may implement tax policies of negative gearing restrictions, reduction of the CGT discount, and ending excess dividend imputation if it wins government next year...
If you own a private company, deemed dividend payments or Div 7A may be familiar to you. In short, it is designed to ensure that income is not inappropriately sheltered in corporate structures at the corporate tax rate...