Thank you for your question! The franking credits system is unique to Australian stocks, so it does not apply to US stocks. I will consider making a video on this topic in the future. Stay tuned! 😊
Thank you for your Video. As Tax time is coming up soon, could you possibly show us how to use My Tax to enter share information and or share sales? I understand that a lot of info is pre-populated by the ATO, but what about ETFs and sales etc? Thanks
Great suggestion, thank you! As we're nearing the end of the financial year, I'll definitely be releasing more videos about tax return preparation, including how to enter share information and sales in MyTax. Stay tuned! x
How can a company pay tax BEFORE it pays dividends? Are dividends not supposed to be what is left over after a company has paid out expenses and taxes and running costs?
Hey there, for franked dividends, the franking credit represents the taxes the company paid in previous years. When the company pays tax, it increases their franking credit account balance. This balance can then be used to attach franking credits to their future dividends. Hope this helps. 😊
😀 What other investment topics are you curious about? Share your ideas below, and I might explore them in future videos!
How about investing US stock in Australia? Is the tax still the same? Could you talk about this topic?
Thank you for your question! The franking credits system is unique to Australian stocks, so it does not apply to US stocks. I will consider making a video on this topic in the future. Stay tuned! 😊
@@OZRuiShi Wow thanks! I'm looking forward to seeing that! Because I can see many people investing in US stock right now, it's a big trend.
Thank you for your Video. As Tax time is coming up soon, could you possibly show us how to use My Tax to enter share information and or share sales? I understand that a lot of info is pre-populated by the ATO, but what about ETFs and sales etc? Thanks
Great suggestion, thank you! As we're nearing the end of the financial year, I'll definitely be releasing more videos about tax return preparation, including how to enter share information and sales in MyTax. Stay tuned! x
How can a company pay tax BEFORE it pays dividends? Are dividends not supposed to be what is left over after a company has paid out expenses and taxes and running costs?
Hey there, for franked dividends, the franking credit represents the taxes the company paid in previous years. When the company pays tax, it increases their franking credit account balance. This balance can then be used to attach franking credits to their future dividends. Hope this helps. 😊