Upcoming Election, page-3

In the earlier days I believe APA didn't pay the tax on dividends payed out, they passed that on to the security holder is what I believe happened? this I believe allowed a higher dividend but without franking because it saved the company money in paying TAX on the dividend they passed that onto the security holders? and the individual taxpayer had to pay all of the tax owing, at their nominal rate is what I understand, this was one reason why APA was liked so much by SMSF's, because they paid less tax, they changed this slightly recently they do have some imputation credits now and if a person should pay less tax than what was paid they claim the credits, if the government decides to alter the imputation credits scheme then the SMSF will be disadvantaged because from what I understand, they won't be able to claim the difference any longer if this change happens, SMSF's will effectively be paying 30c in the dollar with no imputation credits to reclaim, I don't believe that is a fair and equitable position to all holders, it will make no difference to some but a hell of a lot to SMSF holders is my understanding, but I may be reading this all wrong? someone please correct me if that is the case.