✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
Sally receives a payment of $1,400 in dividends on her shares in Westpac Bank. She receives this as a direct payment of $1,400 into her nominated bank account. Westpac send her a dividend notice advising that her dividend payment was $1,400 but she also has ‘franking credits’ of $600 for this dividend payment. How much is Sally’s assessable income on these dividends based on the Australian taxation system? Please do not include dollar signs or commas in your answer.
Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!