Instructions for the worksheet

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

Access an excel version of the Refund of franking credits for individuals worksheetThis link will download a file(XLSX, 25 KB).

Step 1

Collect all the statements for dividends you received and for distributions you were entitled to for the period 1 July 2022 to 30 June 2023. Using steps 2 to 4, transfer the information from each statement to the appropriate columns in the worksheet.

Step 2

Print the company or fund name shown on your statement under Company or fund.

Step 3

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

You must subtract the amount of any supplementary dividend from the amount of franking credits that you include in the worksheet if:

your dividend is from a New Zealand company, and
that company paid you a supplementary dividend, and
you paid New Zealand non-resident withholding tax on that dividend.

Do not 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

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

Step 5

The worksheet will automatically provide a total for the amounts you have entered in each column.

Step 6

Print X at the YES box at item 10 on your application, if you have received:

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

Step 7

Transfer the total amounts of unfranked amount, franked amount and franking credit from your worksheet to item 10 – labels S, T and U on your application. Do not show cents.

Step 8

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

Worksheet

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 worksheetThis link will download a file(XLSX, 25 KB).

Transfer the totals for labels S, T and U to your application. Do not 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 on your application. You do not 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.

This image shows an example of a dividend statement. Company: Telco Ltd Security holder reference number: 018012111 Date paid: 30 October 2022 Class description: ordinary shares Dividend rate per ordinary share: 7 cents Number of ordinary shares: 600 Franking credit: $18.00 Unfranked amount: nil Franked amount: $42.00 Dividend paid: $42.00

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. Do not 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 item 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

This image is an example of completing item 10. ■ 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

Steven will receive a refund of $158.60 if he has no outstanding tax debts, worked out as.

TFN amount withheld + Franking credit = Refund

$84.60 + $74 = $158.60

End of example

Continue to: How to lodge your application