Dividend Imputation



In a recent article, I considered the context and rationale of the exemption from Australian dividend withholding tax (DWT) for franked dividends paid by Australian… Read More ›

Challenging Australia’s Withholding Tax Exemption for Franked Dividends

Franking credits attached to dividends are a well-known and much-loved tax credit in share investments in Australia. However, franking credits have again been in the… Read More ›

Gaming the Dividend Imputation System: How Are Franking Credits “Shared” With Ineligible Investors?

Tax-driven off-market buybacks were first used in 1997 by the Commonwealth Bank. Since then, TOMBs (as we call them) have been used nearly 60 times,… Read More ›

Time to Kill Off Tax-Driven Off-Market Buybacks

We’re told Australia has a progressive tax system – the more you earn, the higher the rate. And that’s certainly the case for earnings from… Read More ›

Progressive in Theory, Regressive in Practice: That’s How We Tax Income From Savings

The efficacy of Australia’s full dividend imputation system was questioned by the 2009 Henry Review and the Tax Discussion Paper released in March 2015, which… Read More ›

The Impact of Full Franking Credit Refundability on Corporate Tax Avoidance

There is much concern among investors such as retirees, who rely on bank dividends for income, that the Australian Prudential Regulation Authority (APRA) is putting pressure… Read More ›

Does Deferral of Bank Dividends Matter?

Rarely, if ever, has it been shown anywhere that corporate income or related taxes are either fully priced or close to fully priced based entirely… Read More ›

Investment, the Corporate Tax Rate, and the Pricing of Franking Credits

There are a large number of trusts, particularly discretionary trusts, in Australia. This was highlighted in one of the Australian Labour Party’s (ALP) tax reform… Read More ›

Why We Use Private Trusts in Australia: The Income Tax Dimension Explained

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