(a) How are dividends taxed if you are:

(i) a resident shareholder, or

(ii) a nonresident shareholder?

(b) How should the following payments and receipts of a New Zealand resident company be recorded in the companys imputation credit account.

Payment of income tax of $300

Payment of PAYE of $600

Payment of GST of $100

Payment of FBT of $500

Receipt of a $720 dividend, with imputation credits attached of $280

Payment of a $720 dividend