Sally receives a payment of $1,400 in dividends on her shares in Westpac Bank. She receives this as a direct payment of $1,400 into her nominated bank account. Westpac send her a dividend notice advising that her dividend payment was $1,400 but she also has ‘franking credits’ of $600 for this dividend payment. How much is Sally’s assessable income on these dividends based on the Australian taxation system?Please do not include dollar signs or commas in your answer.

An Australian investor receives $350 dividends from an Australian company. Which amount should he uses to offset its taxes?Do not type the $ sign. Round up your answer to 0 decimal.

The board of directors of Westlake Ltd declared a cash dividend of $2.50 per share on 22 000 ordinary shares on 15 July 2016. The dividend is to be paid on 15 August 2016, to shareholders of record on 31 July 2016. The effects of the journal entry to record the declaration of the dividend on 15 July 2016 are to: Group of answer choices decrease equity and increase liabilities increase equity and decrease assets. increase equity and increase liabilities. decrease equity and decrease assets.

Sidney Aus is 64 years old and married with 2 children. She is fully employed and earned a salary of R1 690 000 for the current year of assessment. She also made contributions to a medical aid fund of R25 000 and her employer also contributed a further R65 000. In addition to the above she received the following income:Local dividends of R10 000,Interest received from a South African investment of R19 000.YOU ARE REQUIRED to determine the total amount which will be included in Sidney's Gross income for the current year of assessment.Select one:a.R1 780 000b.R1 784 000c.R1 690 000d.R1 755 000

Australian law concerning how a company can pay a dividend is highly complex.Which of the following IS NOT one of the criteria directors must satisfy: Group of answer choicesThe dividend does not materially prejudice the company's ability to pay its creditorsThe dividend is fair and reasonable to the company's shareholders as a wholeThe company has sufficient net assets;Current ratio is at least 2:1

Local Dividends are included in taxpayers gross income.Question 10Select one:TrueFalse