How do franking credits work?

This week, Mena and I discuss how franking credits (aka imputation credits) work and how integral they are when it comes to tax planning including: ·      Their aim is to avoids double taxation. ·      Provides you with a tax offset so it’s important to keep track of your Company’s franking account.·      Sometimes paying tax sooner, so you can pay a franked dividend can reduce your overall tax. ·      Distribution/dividend strategy - streaming franking credits to beneficiaries or shareholders with low taxable income and to receive a tax refund. <br/><br/><br/>To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/ <br/>Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/