Imputation tax was introduced in Australia in 1983.

Question

Quizplus · Accepted Answer

In 1985,a widespread capital gains tax was introduced in Australia,which was followed by the introduction of a dividend imputation tax system in 1987.Under this system,Australian resident shareholders receive a credit for the tax paid at the corporate level on franked dividends.A franked dividend is a dividend paid out of profits,earned since the introduction of imputation,on which Australian corporate tax has been paid.

Imputation Tax Was Introduced in Australia in 1983