Question - Alex purchased $5000 worth of shares in a small biotech company on 1 September.
At 31 December, the company declared and paid an interim dividend of $700 which was unfranked. Alex sold his shares on 18 June for $10,000.
What amount must Alex include in his assessable income for the year as ordinary income?
$700
$5,700
$10,700
None of the above