STX strike energy limited

Drilling/Development Schedule, page-306

  1. 1,636 Posts.
    lightbulb Created with Sketch. 532
    Sorry Timwins. I am not wrong. Let me explain it to you.

    I company makes (say) $100 profit on your behalf. It gives $30 to the ATO and $70 it gives to you with a franking credit of $30.
    When you do you tax return, your income from the company is $100.

    When the tax payable/tax refund section is completed the tax that you are required to pay is reduced by the $30 the company has already paid on your behalf. Of course, if your income is so low you don't have to pay tax then the ATO will return the $30 to you.
 
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