I recently bought some ANZ shares that I want to hold for the long term. They have two different types of plans regarding dividends. From what I can tell the main/only difference seems to be with the bonus option plan you donít pay any tax on the dividend but then they are full CGT (from a $0) base when you sell them, whereas with the dividend reinvestment plan you pay tax on the dividend plus CGT tax on the difference once you sell them. Is this correct? In this case why would anyone not want to defer the tax (i.e. wouldnít everyone go for the bonus option plan)?