Question

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QUESTION 2 Damien is a foreign resident who holds 500 shares in IrriTable Furniture Pty Ltd,...

QUESTION 2

  1. Damien is a foreign resident who holds 500 shares in IrriTable Furniture Pty Ltd, a resident company. The company paid a fully franked dividend of $3.50 per share on 1 June. What amount can Damien claim as a tax offset for the year?

    $1,750

    $750

    Nil

    $2,500

Solutions

Expert Solution

Nil - correct option
Damien is a non-resident of Australia, the franked amount of dividends are paid or credited are not subject to Australian income and withholding taxes.

ekkarill92 answered 2 years ago
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