PHEWPH 2018- Wellbeing and Prevention in Health

Describe how the existing system of dividend imputation operates, and the reason for its introduction in the 1980s. Then identify and explain Labor’s proposed reforms to the dividend imputation system. (Labor’s Policy) In your response you should refer to relevant legislation and tax rulings, and identify which taxpayers benefit under the current system; and whether (and if so, how) these taxpayers will be affected under Labor’s Policy. AND Task B With reference to appropriate legal sources, evaluate the advantages and disadvantages of Labor’s Policy, coming to a conclusion about whether this is “good policy”. In your response you should identify generally accepted attributes of a good tax policy.  AND Task C Sigma Pty. Ltd. (Sigma) is a private company with Australian residency. It has 10 shareholders. In the 2015/2016-year Sigma’s aggregated turnover was $12 million; and in 2016/2017 it was $9 million.