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The Planet Family Trust has the following income:$Dividend franked to 1 0 0 % 1 4 , 0 0 0 Dividends franked to 6 0
The Planet Family Trust has the following income:$Dividend franked to Dividends franked to Net rental incomeThe trustee made Jupiter specifically entitled to the dividend franked to and Earth specifically entitled to the dividend franked to Along with their associated franking credits.The trustee decided to distribute $ to Jupiter, $ to Earth and any remaining amount to Neptune. Jupiter and Earth are both above years of age.Neptune is and also has a salary of $ which they earn from a parttime job.REQUIRED:Calculate the franking credits assume each company is a nonBRE s net income,Division E net income of the trust, the taxable income and net tax payable by Jupiter, Earth and Neptune and the tax payable, if any, by the trustee.
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