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45 day rule

Discussion in 'Accounting, Tax & Legal' started by wishiwasageek, 28th Jan, 2009.

  1. wishiwasageek

    wishiwasageek New Member

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    How does the exemption for small investor holders work?
    Is the entitlement of $5,000 franking rebate per equity or for all franking rebates recieved from all sources for that financial year?
     
  2. AsxBroker

    AsxBroker Well-Known Member

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  3. wishiwasageek

    wishiwasageek New Member

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    what about SMSF? with stat. formula??

    Thanks heaps for your reply - I couldn't find that page on the ATO site when I searched. so that's individuals sorted - BUT

    What about a complying SMSF? The master financial planning guide says "Entities such as complying superannuation funds...can elect to be taken to be qualified for franking credits or rebates up to a limit calculated in accordance with a statuatory formula"

    well I found this: Tax Office releases franking credit and rebate yields
    but I'm none the wiser cause - what's the $limit for a "large" portfolio, plus this link is related to 1998 - any more up to date info??:confused:

    Thanx in advance
     
    Last edited by a moderator: 29th Jan, 2009
  4. AsxBroker

    AsxBroker Well-Known Member

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    Yeah, that's old, it talks about 36% corporate tax rate which was around in 1998. Nowadays (2009) it's 30%.
    If you have a SMSF it's wise to talk to the adviser who helped you set it up.
    Is this for an assignment as your quoting master financial planning guide?
    Dividends paid to a normal super fund, would also receive halve the franking credit back (eg, the difference between the corporate tax rate and the super fund income tax rate = 30% - 15% = 15%).

    Cheers,

    Dan