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Outline what amounts will be included in the assessable income of a resident individual shareholder...

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Accounting

Outline what amounts will be included in the assessable income of a resident individual shareholder in respect of the following, indicating what, if any, franking rebates would be available to that resident individual.

1. Fully franked distribution of $1,000, received from a resident public company, carrying an imputation credit of $400.

2. Unfranked distribution of $2,000, received from a non-resident listed company.

3. Unfranked distribution of $3,000, received from a resident private company.

4. Fully franked distribution of $4,000, carrying an imputation credit of $1,700, received from a resident private company.

How would your answers differ if the shareholder:

(a) A resident private company?

(b) A resident partnership?

(c) A resident trustee?

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