Page 17 - PR Mag May18

POLITICIANS’ FINGERS IN THE

DIVIDEND PIE Heritage Talk: Dawdling to Dayboro
The line from Brisbane to Dayboro was one of those wonderful
scenic railways for which Queensland Rail was once renowned.
Crossing valleys and watersheds as it curved its way west
then north to Dayboro, it was first proposed by Queensland
Some Retirees own shares listed on the Australian Stock the tax-free threshold is paid a franked dividend from say Telstra, Parliament in 1885 to connect the Samford Valley with Brisbane.
Exchange like Telstra and the Banks. These Companies often the tax credit attached to that dividend will be refunded to the
pay dividends to shareholders to which is attached (or imputed) shareholder’s bank account by the ATO. Complicated stuff, but Queensland Rail historian Greg Hallam will share the fascinating
tax credits. If their taxable income is below the tax-free amount it works. railway history of this line, initiated in the boom years of rail
(currently $18,200) then the tax credits are refunded by the tax Labor has recently released a proposed policy to stop or limit construction throughout Australia. Greg will also detail the
office after lodging their tax return. This franking so it’s ironic that the political construction phases in the early 1900s, when the network of
system is known as franking. party that originally introduced the railways branched into dairy and agricultural districts, and
The franking system was introduced in “So effectively, system, beneficial to all tax payers now will discuss significant events that have occurred during the
Australia in 1987 by the Hawke / Keating wants to cease it. Poll’s appear to have the railway’s operation.
Labo.r Government. the dividend current Opposition ahead as the preferred Greg Hallam is a professional historian, and member of the
It makes the taxation system fairer because government at the next election. This will Professional Historians Association of Queensland. He has been
before its introduction, Companies who was being mean dividends may again be double active in the cultural heritage field in Queensland for almost
paid tax would then distribute the after- -taxed. A different tail wags the dog. 25 years, has some published work, and has been employed
tax amount to shareholders by way of taxed twice.” by Queensland Rail as the organisational historian for most
dividend(s). The shareholders would Northern Business Consultants – (NBC of the 21st century. He is also a third generation member of
then pay tax on the dividend received. So Mango Hill Pty Ltd) are Big Local sponsors the railways, with a family connection stretching back to the
effectively, the dividend was being taxed and are Accountants, Tax and Business beginning of the 20th century. A post graduate of the University
twice. Once at the Company level and once at the individual Advisers located on the upper level of the Mango Hill Market of Queensland, he completed a thesis on the Commissioner for
level. Place and Aspley. Any advice given in this article is general in Railways of a century ago.
nature and cannot be acted upon without specific advice from
Since 1987, when a shareholder whose taxable income is under NBC Mango Hill Pty Ltd. Please visit us at: nbc.com.au To find out more and to RSVP for this FREE event, visit -
www.moretonbay.qld.gov.au/exhibition-rsvp

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