Zerrikania Pty Ltd has taxable income of $100,000 and the relevant tax rate is 30%. Consequently, Zerrikania pays income tax of $30,000 leaving $70,000 available for distribution to shareholders as dividends. Zerrikania has a single shareholder and pays all of the after-tax profits to the shareholder as a dividend. The shareholder receives $70,000 from the company and does not have any other income. Calculate the total tax paid and the effective overall tax rate: Under the classical (old) system Imputation system (ignore Medicare & other levies)