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This infographic shows how the company tax and dividend imputation systems have evolved over the decades. Change is ongoing, and in mid-May 2017 — a mere six weeks before the end of 2016–17 — company tax cuts and changes to the calculation of maximum franking credits became law … and took effect on 1 July 2016. Read our article The new franking conundrum to understand these changes.

The Government has recently released draft legislation proposing further amendments to the company tax rate and franking rules. See our post ‘Proposed changes to eligibility for company tax cut‘ for an analysis of these proposals.

Click to enlargeCompany Tax Infographic by TaxBanter

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