Dividends Received

Lindsey owns shares in several Australian listed public companies in his own name (tax rate 30%). During the 2021 income year, Lindsey received the following dividends:

Name of Company	Unfranked	Franked	Franking Percentage attached to Franked Dividends
Aristocrat Leisure 2. Bank of Queensland 3. Coles Group 4. Firefinch (see below) 5. Highfield Resources 6. Medibank Private 7. Qantas Airways 8. Woodside Petroleum	- $80 - $106 (a) No cash (b) $120 - -	$630 $240 $160 - - $370 $125 $940	100% 60% 75% - - 100% 80% 100%

Please note that all Australian dividends shown in the table have been taxed at 30%, not 26%.

(a) Firefinch Limited Dividend:

Lindsey owns 10,000 shares in Firefinch Limited. In March 2021, the company announced payment of an unfranked dividend of 2.00 cents per share which entitled Lindsey to a total unfranked dividend amount of $200.

However, Lindsey once again forgot to quote his tax file number (TFN) to the share registry and the share registry consequently deducted 47% (or $94) in TFN withholding tax in respect of this dividend and paid Lindsey just the net amount of $106.

This net amount of $106 was paid into Lindseys bank account on 13 April 2021.

(b) Highfield Resources Limited Dividend:

Lindsey owns 20,000 shares in Highfield Resources Limited. In October 2020, the company announced an unfranked dividend of 4.00 cents per share which entitled Lindsey to a dividend of $800 (unfranked). However, instead of receiving the cash dividend, Lindsey elected to apply this amount under the companys dividend reinvestment scheme so that he received an additional 1,000 shares in the company.

On the date the dividend was declared, the share price of the company was $0.80 per share. Hence, instead of taking the $800 cash dividend (which would have been unfranked), Lindsey elected to receive an additional 1,000 shares in the company.

Calculate the assessable income