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Imputation credits & resident withholding tax – reminder

As year-end is approaching quickly, it is important to remember that the maximum imputation ratio for dividends is 28:72 for the 2012 income year (previously 30-70 up to end of the 2011 income year). The Resident Withholding Tax (RWT) rate on dividends remains at 33 cents in the dollar meaning dividends are still taxed at 33% in the hands of the recipient (i.e. shareholder). RWT must be paid by the company for the imputed dividend shortfall. Read more

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