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Re: Dividend imputation

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Posted by ronald on August 11, 2004 at 23:27:25:

In Reply to: Re: Dividend imputation posted by Mark on August 11, 2004 at 22:00:30:

: By "BANK", do you mean your default cash account?

Yes

: I'm not sure I followed the situation you described above? It sounds like
: you have a distribution that is part dividend, and part "other"? I have a
: feeling I may have missed the point of your question...

I wasn't too clear. The Australian system labels a proportion of each dividend as "franked", meaning that portion can be claimed against your tax because corporate tax has already been paid on it. But of course, the total amount of the dividend is unaffected by this, so when you label it 'other', it appears in the default cash account as additional income, which of course is not what you want. I can fix this by going back over every dividend and subtratcing out the franking credit, but was hoping there might be another way to use the bank transaction report to reconcile with the statement from the bank

Many thanks


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