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Member
Share payment date 31 March
When the share payment date is the 31/03/2017 but the funds are not deposited in to my bank account (ANZ Securities), in this case will probable be Monday 03/04/2017, which is after this tax year ending 31/03/2017. Are these dividends included in the tax return, ending 31/03/2017 or are they to be included in this years tax period ending 31/03/2018.
Last edited by waikare; 01-04-2017 at 06:45 PM.
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Originally Posted by waikare
When the share payment date is the 31/03/2017 but the funds are not deposited in to my bank account (ANZ Securities), in this case will probable be Monday 03/04/2017, which is after this tax year ending 31/03/2017. Are these dividends included in the tax return, ending 31/03/2017 or are they to be included in this years tax period ending 31/03/2018.
If the share payment date on your dividend statement is 31/3/17 or before, then you would include them in the tax year ending 31/3/17.
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Originally Posted by waikare
When the share payment date is the 31/03/2017 but the funds are not deposited in to my bank account (ANZ Securities), in this case will probable be Monday 03/04/2017, which is after this tax year ending 31/03/2017. Are these dividends included in the tax return, ending 31/03/2017 or are they to be included in this years tax period ending 31/03/2018.
Be careful of asking for advice on this forum, especially about tax imo, some might be tempted to offer advice even though they have absolutely no qualifications to do so, which is actually illegal. You might want to ask a tax accountant if you are not sure.
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Originally Posted by Baa_Baa
Be careful of asking for advice on this forum, especially about tax imo, some might be tempted to offer advice even though they have absolutely no qualifications to do so, which is actually illegal. You might want to ask a tax accountant if you are not sure.
He asked a basic question which requires a simply answer, it's black and white, if your payment date is on or before 31st March then dividend income is included in that years income, not the following years, nothing illegal about answering that question
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Well replied couta1
And Waikari i think you will see the deposit early Monday morning in your account and it will show as deposited at 31st March 17.
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Tax is never simply black and white
If you do your accounts on an accrual basis then it appears in the year when it becomes a receivable [year to 31-Mar-17].
However if you do your accounts on a cash basis it appears in the year it is received [year to 31-Mar-18].
couta1 is making an assumption which may be valid but, I assume, probably is not.
waikare is possibly confused now.
Best Wishes
Paper Tiger
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Originally Posted by Paper Tiger
If you do your accounts on an accrual basis then it appears in the year when it becomes a receivable [year to 31-Mar-17].
However if you do your accounts on a cash basis it appears in the year it is received [year to 31-Mar-18].
couta1 is making an assumption which may be valid but, I assume, probably is not.
waikare is possibly confused now.
Best Wishes
Paper Tiger
I think you are also confusing things, as 777 has already pointed out, waikare will find when he checks his account on 3/4/17 that payment was indeed received on 31/3/17 therefore should be included in the tax year ending 31/3/17 on either accounting basis.
Last edited by couta1; 02-04-2017 at 07:10 AM.
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Member
If I get it in my bank before the end of FY I include it in that years tax. If it doesn't show up until April I don't. I deal with these as a cash payments status not on invoice.
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Member
Originally Posted by couta1
I think you are also confusing things, as 777 has already pointed out, waikare will find when he checks his account on 3/4/17 that payment was indeed received on 31/3/17 therefore should be included in the tax year ending 31/3/17 on either accounting basis.
The dividend with the payment date of the 31/03/17 have not as yet (9.10am) appeared in my account. I guess I go with G on's ... that is if the money is deposited in April then I'll included it in the year ending 31/03/18.
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Originally Posted by waikare
The dividend with the payment date of the 31/03/17 have not as yet (9.10am) appeared in my account. I guess I go with G on's ... that is if the money is deposited in April then I'll included it in the year ending 31/03/18.
Give it an hour or so. I transferred some money to my account on Friday and it is yet to show up. Also March interest has not appeared yet.
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