Hi all,
Pardon if this has been asked before. ....This is my first year as sole director of a corporate trustee.
At the moment, the trust I manage receives all of its income from fully franked share dividends.
I plan to rent an apartment in the trustee name and use dividend income to pay for rent and other furnishings.
Given that I will be using franked capital for expenses, how do I recover the company tax already paid on the money spent?
Many thanks
Pardon if this has been asked before. ....This is my first year as sole director of a corporate trustee.
At the moment, the trust I manage receives all of its income from fully franked share dividends.
I plan to rent an apartment in the trustee name and use dividend income to pay for rent and other furnishings.
Given that I will be using franked capital for expenses, how do I recover the company tax already paid on the money spent?
Many thanks