Published on 01 Sep 98
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The Government's opinion is that there is a degree of wastage of franking credits as intended in the imputation system, and only true economic owners of the shares should be entitled to franking credits. Amendments have now appeared in TLAB#5 1998, to provide that only "qualified persons" will be entitled to the relevant franking credits and dividend rebate. One of the ways a taxpayer will be treated as a qualified person will be where the holding period rule is satisfied. This article helps you determine this by a set of questions and answers.