Question
Robyn owns shares in several Australian listed public companies (tax rate 30%). During the 2023 income year, Robyn received the following dividend payments: (a)Woolworths Dividend:
Robyn owns shares in several Australian listed public companies (tax rate 30%). During the 2023 income year, Robyn received the following dividend payments:
(a)Woolworths Dividend: Robyn owns 600 shares in Woolworths. In March 2023, the company announced an unfranked dividend of $2.45 per share which entitled Robyn to a total unfranked dividend amount of $1,470. However, Robyn once again forgot to quote her tax file number (TFN) to the share registry and the share registry consequently deducted 47% in TFN withholding tax in respect of this dividend. This net amount was paid into Robyns bank account on 31 March 2023. (b) Wesfarmers Dividend: Robyn owns 2,000 shares in Wesfarmers. In September 2022, the company announced an unfranked dividend of $1.12 per share which entitled Robyn to a dividend of $2,240. However, instead of receiving the cash dividend, Robyn elected to apply this amount under the companys dividend reinvestment scheme so that she received an additional 40 shares in the company. On the date the dividend was declared, the share price of the company was $56.00 per share. Hence, instead of taking the $2,240 cash dividend, Robyn elected to receive an additional 40 shares in the company
Name of Company | Unfranked | Franked | Franked % attached to Franked Dividend |
| $481 | $721 | 40% |
2. Telstra | $0 | $165 | 60% |
3. BHP | $303 | $707 | 70% |
4. Rio Tinto | $0 | $3,999 | 30% |
5. Woolworths (see a above) | $1,470 | ||
6. Tabcorp | $88 | $132 | 50% |
7. Santos | $36 | $54 | 90% |
8. Wesfarmers (see b above) | ? |
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