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CFO

3 Reasons Why Your Business Needs a Virtual CFO

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Is your business in a position of growth? Do you find yourself stretched for time managing all aspects of your business? Are you finding it hard identifying and acting upon problem areas that present a risk to your income? If you answered yes to any or all of these three questions, you may be in need of a Chief Financial Officer (CFO). CFOs are specialists in providing strategic financial and business advice, adding value to your business that a standard accountant cannot do. Virtual CFOs…

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Dividend and Franking Credits Whiteboard Graphic

Share dividend income and franking credits

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Investors in receipt of dividends from their share portfolio often benefit from investing in shares because they usually have franking credits attached. As a general rule, an Australian resident shareholder is assessed for tax on dividends received plus any franking credits attached to those dividends. The shareholder is assessed on the “grossed-up” income and then allowed a “franking tax credit” in respect of the corporate tax paid by the company on the profits from which those dividends are paid. This system is referred to as…

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