You Are a Shareholder in a Corporation Which Has Announced

question 66

Multiple Choice

You are a shareholder in a corporation which has announced a profit of $6 per share, of which it retains $2 for reinvestment and distributes the rest as dividend payments. A franking credit of $1.71 per share attaches to the dividend. Given that the personal tax rate is 35%, how much tax must you pay per share?

• A) $0.28
• B) $3.90
• C) $0
• D) $2.00

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