ATO getting tough on those who don’t respond
The Australian Taxation Office said it is instigating stronger action for people who have not met their tax...
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Institutional investors and superannuation funds face franking credit losses of "epic proportions" unless the government deals with the adverse effect of the interplay between a lower corporate tax rate and dividend imputation, experts warn.
The problem arises because under the Enterprise Tax Plan, tax is payable on a company’s current-year turnover, whereas franking is based on the past year’s turnover.
Read the full article on the Australian Financial Review.