Question

In Australia, when calculating the total tax liability of an individual resident what happens with dividends earned from an investment and franked credits

Example: An individual made $10,000 from dividends and $3,000 of those were franked credits.

Question: Do you add the $10,000 to the individual's assessable income and then add the 3,000 franked credits to the tax offsets generally or am I doing this wrong.

Answer 1