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REIT dividends tax paid

Posted 10 September 2015 under Tax Q&A


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Rezelle says:
10 September 2015 at 9:32

Regarding the REIT taxable dividends for individuals, where do you reflect the tax paid on the REIT income. If the whole amount is taxable then wont it then have been taxed twice, when the dividends was paid to you and when you declare it on your income tax?
Hope this makes sense. Please advise

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TaxTim TaxTim says:
10 September 2015 at 14:56

The REIT dividends should be included in "Other Taxable Receipts and Accruals" code 4214.
They are included in your normal income and taxed per your marginal tax rate.
They are not taxed when paid to you. They are paid to you gross and then taxed only on assessment when you include them in your annual tax return.


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