An Australian resident company who receives a dividend from a non-resident company will include the overseas...

An Australian resident company who receives a dividend from a non-resident company will include the overseas tax paid in its franking account

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ekkarill92 answered 1 year ago

Y, an Australian resident, is the sole shareholder of ABC Pty Ltd, an Australian resident company....

Y, an Australian resident, is the sole shareholder of ABC Pty Ltd, an Australian resident company. In this income year, ABC Pty Ltd made an interest free loan of $100,000 to Y. By the income year end, the company waived 40% of the loan. The balance of the loan remains outstanding by the company’s lodgement date. The company’s distributable surplus for the income year is $50,000. Advise the tax implications of the above transaction for Y. How will your answer...

Taiwan taxes services paid by Taiwan companies to non-resident companies overseas at a withholding tax of...

Taiwan taxes services paid by Taiwan companies to non-resident companies overseas at a withholding tax of 20%. How does this differ from common international taxation concepts? What problems might this create? What opportunities are there to reduce the tax?

Provide the tax privileges a resident company enjoys as compared to their non-resident counterpart (MALAYSIA)

Q1 Miss Law, a Hong Kong resident, is employed by an overseas airline company as air-hostess....

Q1 Miss Law, a Hong Kong resident, is employed by an overseas airline company as air-hostess. She stayed in Hong Kong for 60 days, 48 days and 75 days during the years of assessment 2016/17, 2017/18 and 2018/19 respectively. Her Hong Kong salaries tax position is: Select one: a. She is not liable to salaries tax for any year of assessment. b. She is liable to salaries tax for the year of assessment 2018/19. c. She is liable to salaries...

Gold Pty Ltd is an Australian resident private company. All the shares in Gold Pty Ltd...

Gold Pty Ltd is an Australian resident private company. All the shares in Gold Pty Ltd are owned by Johnny Gold. During the year ended 30 June 2019 the following events occurred in relation to Gold Pty Ltd: 1 July 2018Opening balance of franking account$200,000 2 July 2018Payment of dividend franked to 70%$1,600,000 28 October 2018Payment of income tax for Gold Pty Ltd$600,000 26 November 2018Receipt of dividend from another company franked to 80%$450,000 31 December 2018Refund of income tax...

ABC Pty Ltd is an Australian resident private company and on 1 July 2019 its franking...

ABC Pty Ltd is an Australian resident private company and on 1 July 2019 its franking account balance was $35,000. ABC paid PAYG instalments of income tax during the year ended 30 June 2020 as follows: 21 July 2019 -- $35,000 21 October 2019 -- $35,000 21 January 2020 -- $35,000 21 April 2020 -- $26,000 A refund of income tax of $22,500 was received by ABC from the ATO on 1 April 2020. ABC paid GST of $65,000 on...

Introduction and overview of deep vein thrombosis, to include a definition , australian incidence data (who...

Introduction and overview of deep vein thrombosis, to include a definition , australian incidence data (who is effected, how many) and known risk factors (age, gender, ethnicity ect). (300 words)

Introduction and overview of deep vein thrombosis, to include a definition, Australian incidence data (who is...

Introduction and overview of deep vein thrombosis, to include a definition, Australian incidence data (who is affected, how many) and known risk factors (age, gender, ethnicity ect) (300 words)

QUESTION 7 Flying Kangaroo Ltd is an Australian resident company that provides air services between Australia...

QUESTION 7 Flying Kangaroo Ltd is an Australian resident company that provides air services between Australia and Canada. It has also reached an agreement with the Canadian government that allows it to fly a short haul domestic flight in Canada. The profits of the company are as follows: Flights between Australia and Canada - $15,000,000 Domestic Flights within Canada - $700,000 Article 8 of the DTA between Australia and Canada relevantly provides: Profits from the operation of ships or...

Q5.3.5 (Taxable income from Australian and foreign sources) Yvette Jankic, a resident single taxpayer aged 31,...

Q5.3.5 (Taxable income from Australian and foreign sources) Yvette Jankic, a resident single taxpayer aged 31, worked in New Zealand from 1 July 2017 until 15 November 2017 and has provided the following information for the 2017/18 tax year: Receipts $ Interest (net of TFN tax withheld $490) 510 Interest from United Kingdom (net of withholding tax $300) 2,700 Dividend from the U.S. state of Georgia (net of withholding tax $2,100) 3,900 Gross salary – Australian employment (PAYG tax $5,285...

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