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How much tax must ian pay on the dividend income

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Reference no: EM132906436

Problem 1: Ian holds 100 shares in Big Bank Pty Ltd. The company paid a partially franked dividend of $4 per share (franked to 30%) on 1 June. Assume a corporate tax rate of 30%. How much tax (if any) must Ian pay on the dividend income? Assume his applicable marginal tax rate is 45% and this is the only transaction.

a. Nil
b. $151
c. $57
d. $160

Reference no: EM132906436

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