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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, fully
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.
Required: Advise Jake of the tax payable due to the receipt of the dividends
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