Re: Australian Dividend Franking

[ Message Board ] [ Archives ] [ Search ]

Posted by Mark on September 28, 2007 at 12:22:44:

In Reply to: Re: Australian Dividend Franking posted by Bruce Lancashire on September 28, 2007 at 01:45:38:

: As in John's message, I too use the Long Term Capital Gain field as a surrogate for Australian Franking Credits. It's not too bad an option except for its effect on the Cash Account. It would be nice to have an option of "Other-cash" and "Other-noncash", for example, as a workaround.

:
: ----------cut---------
: : The $289.29 Imputed Credit is notional figure which becomes available to me as income at a later date when I lodge my annual tax return.
: : (Note that I do not receive cash for this income, but a credit against my taxation liability.)
: : To account for this I enter it as a Long Term Capital Gain (Because I do not use this category otherwise)and it then shows up as Income for the investment, but regrettably also shows as a credit to my bank account in FM, so I manually delete this entry from the bank account.
: ----------cut----------

Hi Bruce,

Thanks for the idea/feedback.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

Replies: