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BG. If the company makes a profit it pays 30% tax. If it makes a loss it carries the loss. It can then distribute the profit to shareholders (who receive a franking credit for the tax paid by the company). The gross is added back to your income and you're given a credit/assessment for tax...

Can we get fully lucky back to provide some guidance?

How do you figure that? The tax rate is 37% from $80k up to $180k + Mediscare levy & HECS (but HECS isn't a tax, it is payment of a debt). Even the highest tax rate is 47% + Mediscare, still less than 50%

is this withholding tax because you are not providing a TFN or just a gripe because you're earning over???