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...READ MORE
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.