What is unfranked dividend
Can you please let me know the accounting treatment for unfranked dividend if company pays unfranked dividend (ie. Unfranked dividend payment to parent company for the amount of $ 100,000)?
what are the other Debit and Credit accounts related to this particular transaction apart from below ledgers for taxation purposes?
I am a disabled pensioner as is my wife. When I left the workforce the company I worked for arranged for a number of shares to be paid to me after negotiations with the ATO. I received a div stmt recently in which my div was
F = $494.04,
FC = $211.73,
UF = $211.76
I have already submitted a form to state that I did not have sufficient income
on which to pay tax even with the total income from this div payment I still would be under the tax threshold. As I have submitted the earlier form and my income from this share is so small I figure it would be too expensive to get a tax consultant not to do a a refund of Franking Credit claim. With this in mind, can you tell me how much I would get refunded.
Can you help me, more importantly, will you help me understand each of these elements and how my statement relates to each one. A teaching point, if you will.
I do not mind if you use hypothetical figures instead of my actual and assume the total theoretical income is not subject to further income tax.
Others may benefit from this example.Source: blog.lewistaxation.com.au