Assuming Smart Solutions Pty Ltd paid $40,000 fully franked dividend on 30 June 2022 (only dividend paid for the year), comment on the tax treatment of the dividend to the following four (4) shareholders:

Julia and John Smart receive a dividend of $15,000 each. They are Australian residents at Page 4 Kaplan Business School Assessment Outline the highest marginal tax rate.

$5,000 to Justin Smart, the son of Julia and John, who has been studying in London for three years and is a foreign resident.

$5,000 to Leaf Pty Ltd, an Australian private company with a 30% company income tax rate.

Advise how each of the above four shareholders of Smart Solutions Pty Ltd would be taxed on the distribution received in 2021/22.