Asx stock, dividends and taxes

[777]

My late brother left a lot of nab shares in my name. It pays 40,000 every 6 months into my account. Do I pay tax on this? And if so, is there a way around it....Eg. take shares in lieu of dividends then sell the stock dividends....Help appreciated.

It will be wise to check the IRD site regarding Provisional Tax requirements.

[G on]

If this amount is included in the 17-18 tax year and any tax credits you have do not reduce tax payable to under $2000-$2500 then provisional tax will need to be worked out for the following year. No biggie. If you are receiving it in the 18-19 tax year you may still want to think about voluntary payments as it may be quite large to leave for a year.

[Xerof]

Whilst on the matter of Franking Credits, did I hear something a while ago that Labour would take a look at allowing FC's to be treated similarly to IC's? Or was I having a discussion with myself......