23
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 18 Sep 2024
23 points (100.0% liked)
Melbourne
1848 readers
54 users here now
This community is a place created for the people of Melbourne and Victoria. We are a positive, welcoming and inclusive community. We might not agree about everything, but we always strive to stay civil and respectful.
The focus of our discussions is based around things that effect Victoria, but we are also free to discuss our local perspective on wider issues. Or head to the regular Daily Random Discussion thread to talk about anything.
Ongoing discussions, FAQs & Resources (still under construction)
Adoption Certificate for Nellie, the Daily Thread numbat (with thanks to @Catfish)
founded 1 year ago
MODERATORS
Fully franked you get a credit for entire dividend amount and can offset your tax with that credit.
might help
Let's say I have a dividend payout of 20cent and it's 100% franked.
If it's fully franked do I only get 20cents? or more than 20c?
You get (20c / (1-0.3)) -20c = A franking credit of about 8.5c
so you're ending up getting 20c + 8.5c or 28.5c. It's to avoid double taxation.
oh ok, I didn't realise you get the franking credit as well.