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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

New law enacted to prevent dividend washing

Posted on Aug 18, 2014 by CFL Financial

A new law that prevents taxpayers from benefiting from dividend washing has been enacted. The new integrity rule is intended to help taxpayers understand their tax responsibilities and comply with the legislation.

Dividend washing occurs when a shareholder seeks to claim two set of franking credits. This is done by selling shares after a dividend payout has been announced ex-dividend, meaning that both the dividend and the franking credit remain with the investor. The investor then repurchases shares in the same company that have both the dividend and the franking credit attached. Thus, they have come to be in possession of two sets of franking credits for one set of shares.

Investors who have entered into dividend washing in the past few years should have received written correspondence from the ATO requesting that they amend their tax returns for the relevant income years. If amendment requests are received by the ATO before the date specified in the letter no penalties will be applied. Individuals who have engaged in dividend washing but have not received correspondence from the ATO will be offered the same penalty remission if amendments are made by 22September 2014.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Email:
Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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