dividends

Tax losses and franking offsets for corporates

  Companies are not entitled to a refund of franking tax offsets, however they may be able to convert them to carried forward losses in subsequent years. Companies are able to choose the amount of prior year losses they wish to deduct, after first having offset losses against net exempt income. There are however the

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Clarity at last on company tax rates

  After much delay, Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entitles) Bill 2017 was finally passed by the Senate into law on 23 August 2018. This provides certainty for corporate clients as we head into the lodgment and compliance season. The new legislation introduces a new “bright line test” to determine eligibility for

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Investment guidance, forms, explanations

  Use the links provided to find out more about investing, and find out more about the ATO’s investor’s tax planning tips. Tax planning in general Tax advice website for investors  The ATO’s tax planning website, designed to help investors and tax agents make informed investment decisions. Features a checklist of what to look for

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Franking and the new corporate tax rates

  As tax practitioners will know, the maximum franking credit that can be allocated to a frankable distribution paid by a corporate tax entity is based on its applicable corporate tax rate for imputation purposes. This can differ from a corporate tax rate, which is the rate of tax payable on a company’s taxable income

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Is that benefit caught by Division 7A or FBT?

A common occurrence, particularly in family companies, is the provision of benefits to shareholders of a company in which those same shareholders are also directors of the company. The question will then arise; is that payment caught by Division 7A or FBT? As a general rule, a fringe benefit arises if the company provides a

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