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Changes to the dividend payment rules and the associated income tax implications


This article sets out some of the legal implications of the new s 254T of the Corporations Act 2001 (Cth) and the associated and consequential income tax implications, particularly in relation to the assessability of corporate law dividends paid under the new test and the distribution of franking credits to shareholders.

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Jason Barnes CTA
Jason Barnes is a Special Counsel in the Melbourne office of King & Wood Mallesons and has over 15 years' tax experience at leading law and accounting firms. His experience includes two secondments to major banks in Hong Kong and Melbourne. Jason primarily practices in the area of income tax (including tax audits and litigation), but he has a broad ranging practice that extends to goods and services tax, stamp duty, fringe benefits tax and resource taxes. He advises Australian and overseas clients on the tax aspects of financing, international and cross-border, commercial, capital management and workplace and employment related transactions. Jason has been recognised as a rising star in the area of tax in the 2nd edition of Euromoney's LMG Rising Stars 2016 guide. - Current at 09 September 2016
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