On Sat, Aug 10, 2002 at 09:59:18PM -0400, Derek Atkins wrote: > Conrad Canterford <[EMAIL PROTECTED]> writes: > > > It is a kind of tax credit. It could be manually entered into the > > transaction by having an extra split on the transaction, and a new > > account "Franking Credits" or some such. I'm not sure that automating it > > is likely to have much applicability outside au. > > So it is an offset of the "income" from the dividend? Yea, this sounds > like instead of having the dividend transaction that looks like: > > Dividend > Assets:MMF 5 $2.00 $10.00 > Income:Dividend $10.00 > > > You would have something that looks like: > > Dividend > Assets:MMF 5 $2.00 $10.00 > Income:Dividend $5.00 > Income:Franking $5.00 > > Then your total "income" is the sum of the Income:Dividend and > Income:Franking accounts, but you have your Franking amounts, > too. > > If this is how is works, then I agree, it should not be automated.
That's a very cool idea. If you make the Franking account a subaccount of the Dividend account, all the numbers even add up. Thanks! Now why didn't I think of that? FWIW, the franking credit is a number that you put on your tax return that adds to the tax you have already paid. It's to indicate that the company has already paid company tax before calculating the dividend and thus you should not also be charged income tax on it. -- Martijn van Oosterhout <[EMAIL PROTECTED]> http://svana.org/kleptog/ > There are 10 kinds of people in the world, those that can do binary > arithmetic and those that can't. _______________________________________________ gnucash-devel mailing list [EMAIL PROTECTED] http://www.gnucash.org/cgi-bin/mailman/listinfo/gnucash-devel
