Does the Co-operative (ICFAL) lodge a tax return and what is my tax obligation as a member?

• No, we are not required to lodge a tax return. However, the dividend earned by individual member must be declared as part of income during lodgment of their income tax return.
• The dividend is declared during the AGM and the profit or loss is normally mailed with the December quarterly statement. Hence, the amount earned by a member should be declared in their following financial year tax return.