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the foreign resident would get a tax credit for witholding tax...

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RedTerritory

3,087 Posts.

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24/02/23

14:16

Post #: 66447808
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Originally posted by Goodheart: ↑

I disagree.

On the surface fanking credits may appear to have no value to non resident entities.

However if you look a little closer into the legislation that was envoked many years agi by then federal treasurer, Peter Costello, you will learn that the unfranked proportion of any dividends received by a foreign entity is subject to a 30% with-holding tax. This legislation remains in force today.

Example1. if $1.00 unfranked was declared . . . Australian residents would receivd $1.00, but non residents would only receive 70 cents.

Example 2: If a $1.00 fully franked dividend were to be declared . . .
Residents of Australia recieve $1.00 plus whatever franking benefit applies to their particular case.
Non residents of Australia have the 30% with-holding tax waived and receive $1.00, but recieve no value in franking credit.

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the foreign resident would get a tax credit for witholding tax paid in their jurisdiction but not for the franking credits

getting back to the dividend, it will not be franked as their hasnt been any tax paid yet....accrued maybe but not paid

Last edited by RedTerritory: words missing 24/02/23

YAL Price at posting: $6.11 Sentiment: None Disclosure: Held
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Last $5.78		Change 0.070(1.23%)		Mkt cap ! $7.592B

Open	High	Low	Value	Volume
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Price($)	Vol.	No.
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