Hi All, I was wondering if anyone could help me with this? I currently have some BJT shares which recently paid out a dividend. I had 31901 shares, the payout was 4 cents per share which should be $1276.04. I recieved $297.04. Now I also live overseas and hadnt provided Chess share registry service with my tax file number.
I queried Chess as to why the ammount of tax taken out was so high, and they said it was due to me not providing a TFN.
I told them that the maximum ammount taken out should have been taken out at the highest tax rate, being 46.5%, which I confirmed with the tax department when I called them to ensure that I had no tax liability issues (which I dont).
The guy who I spoke to told me that he would get back to me about this, which he did yesterday, however he told me that he has been advised that he cannot discuss the matter with me. (so I figured I must have tax liability I didnt know about)
So I called the tax department as mentioned above, and I have no issues with them, and then I called Chess back again and just got no sence at all out of the person who served me. She tried to tell me that my tax issues were intertwined with BJTs to which I basically told her was incorrect.
She advised me that in the DEC 18 ASX announcement, this issue was adressed. I looked up this announcement and lo and behold, there was nothing as to why I had been taxed so much! It mentioned that some of the payout had been with held to potentially buy the management rights, but thats about it.
So where I am at is that instead of approx $556 being taken for tax, $979 was taken, and no one can tell me why.
Do any of you out there know what going on, cause I dont!
Thanks in advance