Alan’s Saturday Overview

Alan Kohler’s Saturday Overview is a weekly report that brings a sharp focus to the key issues that matter, with exclusive insights into upcoming financial events.

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Leigh Clifford: from 37 years at Rio Tinto, to 11 years chairing Qantas and range of other fascinating corporate roles

In the early 1970s, the young mining engineer Leigh Clifford spent 6 years working in Broken Hill, including a year under-ground when he was a member of a union affiliated with the modern day CFMEU. By the time the Qantas chairman controversially supported grounding the airline in 2011, he’d come full circle. Stephen Mayne sat down with him for this week's Chairman interview.

Broker Research

Fund Research

  • Are Australian banks a good investment in 2018?
    In this week's Funds Research, we ask our experts whether banks are a good investment in 2018. There's also the usual commentary overviews, this week on topics ranging from sustainable investing to Greece's economic recovery. Become a TCI Community Member Now Stay up to date and make better informed decisions. Get access to all this exclusive content and so much more every week! $1 for the first month $25/month membership …

This Week In Our Community

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Question of the week

Q:Isn’t it the case that a company pays tax in the name of the shareholder for the profit which is then distributed to the shareholders as dividends. So the franking credit makes sure that people with incomes above the starting amount for taxes are not taxed twice. But the ones below the cutoff should get the franking back, because they do not pay any tax on their dividends = profits of their shareholding. There are other countries as well which refund the already paid tax when people’s income is not taxable.

A: I agree. Returns on debt comes out of pre-tax profit, and dividends are paid out of net profit and should not be taxable in the hands of those who receive them, otherwise they could pay the dividend out of pre-tax profit, and in that case it could be paid once in the hands of shareholders.