Hi. Hopefully a very simple question, and a simple answer.
The amount of a dividend doesn't bear any relation to the profits for the year, I assume?
Example, the company bank has 20k, accumulated from profits over some years. This year, the profits were 5k. I choose to pay a dividend of 10k. This is all fine, correct, as long as the dividend is declared correctly on the personal tax return?
Thanks.
The amount of a dividend doesn't bear any relation to the profits for the year, I assume?
Example, the company bank has 20k, accumulated from profits over some years. This year, the profits were 5k. I choose to pay a dividend of 10k. This is all fine, correct, as long as the dividend is declared correctly on the personal tax return?
Thanks.
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