The "Limited" part in a company name refers to limited liability, and in some cases, limited shares. Nothing more, nothing less.
I keep repeating myself because your ideology is preventing you from understanding.
My interpretation of the implications on dividends is supported by decades of bipartisan tax law in Australia, Singapore and other countries.
Your interpretation of the implications was brought to the general public by Shorten and rejected resoundingly.
I've pointed out problems with Shorten's way in previous posts, but here's another. That way creates a situation where dividends are taxed at the personal income tax rate if the individual's marginal rate is higher than the company tax rate, but taxed at the company tax rate if the individual's marginal rate is lower than the company tax rate.
Which is it? The govt can't have a bob each way. They have to choose. Choosing the tax entity on a case by case basis in order to tax at the highest rate available was ridiculous, and correctly rejected by the Australian people as an unfair system.
If you are OK with dividends being considered a company profit and taxed at that rate, are you OK with individuals with higher marginal rates only being taxed at the company rate for dividends and not having to pay the excess?
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