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  "documentTitle": "Rio Tinto (RIO)",
  "authorId": "24_Palliser_Capital",
  "authorName": "Palliser",
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  "presentationDate": "2024-12-01 00:00:00",
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  "pageNumber": 19,
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  "notes": "Includes a diagram illustrating the flow of taxes, dividends, and credits between the company, the ATO, and shareholders.",
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      "kind": "callout",
      "text": "Grossed-up dividend (including A$30 franking credits) = A$100",
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      "kind": "callout",
      "text": "Franking credits are locked up at Rio Tinto until their value is released through dividends",
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      "text": "Flow diagram showing Profit -> Rio Tinto -> ATO -> Shareholders with tax and credit flows.",
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      "text": "Franking credits prevent double taxation in Australia. Australian corporates can \"frank\" dividends paid to shareholders by attaching a credit. Franking credits offset Australian taxpayers' tax liability.",
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      "kind": "title",
      "text": "Franking Credits: What Are They and Why Do They Matter?",
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      "evidence": "The presentation agitates the problem by highlighting the DLC structure's negative consequences, including destroyed shareholder value and wasted franking credits.",
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