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
