Since the introduction of lower rates for base rate entity companies, issues are arising causing practitioners to scratch their heads. This session covers the following areas:

• Which companies can access the lower company tax rate?
• Calculating the “corporate tax rate for imputation purposes”
• What are the consequences on the franking of dividends as the BRE tax rate progressively lowers?
• Situations where “trapped” franking credits can arise, including:

• when restructuring
• paying dividends to family companies

• Worked example of how to treat income received via interposed entities to a company for the “passive income” test