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Required : Advise Jake of the tax payable due to the receipt of the dividends. Jake receives the following dividends on 1 August 2020: $8000,
Required: Advise Jake of the tax payable due to the receipt of the dividends.
Jake receives the following dividends on 1 August 2020:
- $8000, fully franked from ABC Ltd.
- $3000, 50% franked, from DEF Ltd.
Jakes is on the top (45%) marginal tax rate. Ignoring Medicare Levy, calculate the impact of the dividends on Jakes tax liability.
subject principles of income tax
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