Bruce Brammall Financial

The Australian Taxation Office has extended its data collection to more rigorously check taxpayers’ numbers in their FY23 tax returns and cut down on tax cheats. Property investors and those making work-related claims are high on the target list.

Australia’s dividend imputation system is designed to stop the double taxation of company profits. While investing in companies that pay fully franked dividends can be tax effective, tax should never be the primary determinant of a decision to buy shares.