Required: Calculate the tax payable on Buddy's dividend receipts (disregarding Medicare levy).

Buddy is on the 45% marginal tax rate. He received the following dividends on 1 February 2023: $21,000, fully franked, from UIP Ltd, which pays tax at the 30% tax rate $7,000, 40% franked, from RTS Pty Ltd, which pays tax at the 25% tax

Answer rating: 100% (QA)

To calculate the tax payable on Buddys dividend receipts we need to consider the franking credits at... View the full answer