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  Miscellaneous 2007

The holding period and related payment rules: 45 days to offset

Source: The Tax Specialist Journal Article

Published Date: 1 Feb 2007

 
The holding period and related payment rules, which are part of the dividend imputation system, were introduced nearly a decade ago to correct certain “abuses” of the imputation system. In particular, these two rules were aimed at preventing trading in franking credits, whereby those taxpayers who could most benefit from the imputation system were able to access its benefits in place of those who could not fully utilise its benefits. The broad application of the rules is by now generally understood by participants in the share market. However, in the opinion of the authors of this paper, there are still some issues associated with the application of the rules which deserve further consideration and comment.

In this paper, Patrick Broughan and Alison Noble discuss in detail a number of issues impacting the application of these rules which remain unresolved by taxpayers who participate in the share market.
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