Tax calculation for Dividends

  1. 72 Posts.
    Hi, if I have no income besides dividends, could someone please verify the following calculation?

    Income not including dividends = 0
    Dividends = 20,000
    Franking credit = 8570
    Total taxable = 28570 (adding 20000 + 8570)
    Marginal tax rate = 19% (more than 18200 but less than 37000)
    Total tax payable = 1970 (calc as (28570-18200)*19% )
    Tax refundable = 6600 (calc as 8570-1970)
    Total net = 26600

    Ta
 
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