[GNC] Rounded Up/Down Share Purchase with Dividend

[Michael or Penny Novack]

On 6/7/2023 6:54 PM, jbonnett at internode.on.net wrote:
> So, you get $10 dividend plus a $2 franking credit. The only amount you can
> do anything with is that $10, the franking credit only applies at tax time.
>
This is why we who are not accountants in the jurisdiction should not 
make accounting judgements.

I guess this is a question similar to the situation of those of us here 
who have tax withheld, earned tax credits, etc. Now I (here in the US) 
would be keeping things like those in my books as either an asset or 
expense (pre-paid against the ultimate tax bill). I'd favor the former 
way (treating it ads an amount the gov't owes me) because although I 
don't actually do a close the books, I am "reconciling" income tax at 
tax filing time in the following year. And asset accounts are "standing" 
accounts.

But I am not an accountant, let alone one experienced is doing to the 
Aussie way.


Michael D Novack