Instructions to complete the refund of franking credits worksheet

Step 1: Collect all your dividend and distribution statements

Collect all the statements for dividends you received and for distributions you were entitled to for the period 1 July 2023 to 30 June 2024.

If you have more than one dividend or distribution statement, complete the worksheet and calculate the amounts to show at question 10 in your application.

Using steps 2 to 4, transfer the information from each statement to the appropriate columns in the worksheet.

Step 2: Company or fund name

Write the company or fund name shown on your statement in column Company or fund.

Step 3: Unfranked, franked and franking credit amounts

Write the amount of any unfranked (or supplementary), franked or franking credit amounts in the appropriate columns 2, 3 and 4.

Subtract the amount of any supplementary dividend from the amount of franking credits in your worksheet if all of the following apply:

Your dividend is from a New Zealand company.
That New Zealand company paid you a supplementary dividend.
You paid New Zealand non-resident withholding tax on that dividend.

Don't include New Zealand imputation credits in the Franking credit column (only include Australian franking credits).

If your statement does not show the franked and unfranked portions of the dividend, include the total dividend amount in the Franked amount column.

Step 4: TFN amounts withheld

Write any TFN amounts withheld (or deducted) from dividends in the TFN amount withheld column.

'TFN amounts withheld' are amounts withheld or deducted by the company or managed fund because you did not give them your TFN.

Step 5: Total the amounts in columns 2, 3, 4 and 5

Total the amounts you have entered in each column and write the total in the total field for each.

If you use the excel worksheet, it will automatically provide a total for the amounts you have entered in each column.

Step 6: Complete question 10

Print X at the Yes box at question 10 in your application, if you have received:

any dividend distributions from a managed fund
Australian franking credits from a dividend paid by a New Zealand company.

Step 7: Transfer total at columns 2, 3 and 4 to question 10

Transfer the total amounts of unfranked amount, franked amount and franking credit from your worksheet to question 10 – labels S, T and U in your application. Don't show cents.

Step 8 Transfer total at column 5 to question 10

Transfer the total TFN amount withheld amount from your worksheet to question 10 – label V in your application. Show cents.

Worksheet – Refund of franking credits for individuals

This worksheet will help you if you have more than one dividend or distribution statement. Access an excel version of the Refund of franking credit for individuals worksheet(XLSX 25 KB)This link will download a file.

Transfer the totals for labels S, T and U to your application. Don't show cents.

Transfer the total for label V to your application. Show cents.

This worksheet is to help you work out the amounts you need to put in your application. You don't need to send this worksheet to us.

Example: refund of franking credits worksheet

Steven received a dividend statement from Teleco Ltd.

His statement showed:

a franked amount of $42.00
a franking credit of $18.00.

The statement below is just an example. There are many different formats of statements.

Steven also received 3 other dividend statements from:

JT Corporate Unit Trust, his statement showed
- $120.73 unfranked amount.
Koles Bier Pty Ltd, his statement showed
- Steven did not give the company his TFN
- his entitlement of $180 unfranked amount had $84.60 tax withheld (therefore he actually received $95.40).
SDW Managed Investment Fund, his statement showed
- a franked dividend amount of $131
- a franking credit of $56.14.

Steven would complete the worksheet like this:
Company or fund	Unfranked amount (S) $	Franked amount (T) $	Franking credit (U) $	TFN amount withheld (V) $
Teleco Ltd	-	42.00	18.00	-
JT Corp Unit Trust	120.73	-	-	-
Koles Bier Pty Ltd	180.00	-	-	84.60
SDW Fund	-	131.00	56.14	-
Total	300.73	173.00	74.14	84.60

Transfer the totals for labels S, T and U to your application. Don't show cents.

Transfer the total for label V to your application. Show cents.

This amount includes both the amount received by Steven and the TFN amount withheld ($95.40 + $84.60).

Steven completes the dividend details at question 10 on his application like this:

Did you receive any dividend distributions from a managed fund or Australian franking credits from a New Zealand company? – Yes
Label S Unfranked amount: $300
Label T Franked amount: $173
Label U Franking credit: $74
Label V Tax file number amounts withheld from dividends: $84.60