Dividend imputation has been a major feature of the Australian taxation system since 1987. Entities that are taxed separately from their members are called corporate tax entities, and they are taxed at the company tax rate, which is currently 30%.
Below is a link to the Australian Taxation Office's ''Imputation essentials'' pathway page.
http://www.ato.gov.au/businesses/pathway.asp?pc=001/003/066&mfp=001/003&mnu=10007
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