Can someone please tell me what’s going on?, page-53

  1. 475 Posts.
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    I'm not an expert but my reading FROM CHAT as above
    "when an Australian company receives a dividend funded from CFI, it typically treats that dividend as:Non-assessable, non-exempt (NANE) income..It is excluded from assessable income.It does not reduce carried-forward tax losses.It does not trigger tax liability."

    I suggest anyone that trades through a family Trust to seek a tax ruling (maybe a group of us) on the treatment of a CFI trust distribution to a company. Based on the above maybe no tax is payable by a company.

    DYOR. speak with the accountant(i suspect it will be over his head and his research too costly)
    set up the new company and prepare the trust minutes before June 30
 
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