Which of the Following Statements Is NOT Correct

question 50

Multiple Choice

Which of the following statements is NOT correct?

• A) In Australia taxation of individuals is based on a progressive tax system.
• B) The dividend imputation system effectively removes the double taxation of dividends in Australia.
• C) In relation to dividend imputation, a shareholder whose marginal tax is lower than the company tax rate will pay their marginal tax on the dividend received.
• D) In Australia dividends on which the company has already paid company tax are called franked dividends.

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