Buying and selling shares? If you’re buying and selling shares on the Australian Securities Exchange (ASX) special market you may be participating in a process known as dividend washing. This is when you sell shares after a dividend has been issued, retaining the right to the dividend and then buy a similar parcel of shares, becoming entitled to the dividend on those shares also. If you – or someone who is acting on your behalf – has participated in dividend washing transactions, there are important changes to legislation you need to know about. These changes mean that you will not be able to claim the franking credits on the second dividend. Follow the link to read more about it:https://ato.gov.au/Business/Imputation/In-detail/Dividends---imputation/Dividend-washing-integrity-rule/
Posted on: Thu, 21 Aug 2014 07:16:05 +0000
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