QUESTION 6

1. Jacob, an Australian resident individual taxpayer, owns 5,000 shares in Flight Centre Ltd. On 15 December 2019, he received a franked (cash) dividend of $280, franked to 75% from Flight Centre Ltd. On 24 June 2020 Flight Centre Ltd declared a fully franked (cash) dividend of $630. Flight Centre paid the $630 cash dividend directly into Jacob's bank account on 30 June 2020. The company tax rate is 30%. What is the TOTAL amount that Jacob's should include in his assessable income for the 2020 income year?

   		$280
   		$370
   		$400
   		$970
   		$1,270.