Tax topics - Imputation

Explains what you have to include in your distribution statement if you are an Australian corporate tax entity or a New Zealand franking company that make a frankable distribution.

Trans-Tasman imputation overview fact sheet

This fact sheet provides an overview of the Trans-Tasman imputation rules which allow a New Zealand (NZ) company to choose to enter the Australian imputation system and how the Australian imputation rules apply to a NZ company that makes the franking choice.

Trans-Tasman Imputation: How to claim Australian franking credits attached to New Zealand dividends

Information to help you complete questions about New Zealand dividends in tax returns and refund of franking credits forms. (NAT 10851-06.2004)

Franked distributions received through certain partnerships and trusts (Division 207 amendments)

On 25 June 20 the Tax Laws Amendment (2004 Measure No.2) Bill received Royal Assent. It contains amendments to Division 207 of the Income Tax Assessment Act 1997 (ITAA 1997) which deals with the tax effect of receiving a franked distribution.

Simplified Imputation System: Progress of legislation

The introduction of the simplified imputation system replaces the former imputation provisions that were contained in Part IIIAA of the Income Tax Assessment Act 1936.

Franking account tax return 2003-04 and instructions

Franking account tax return and instructions 2004-05

Trans-Tasman imputation - election form

This form allows a New Zealand company to choose that the Australian imputation system is to apply to the company

Trans-Tasman imputation - revocation form

This form allows a New Zealand company that has made a NZ franking choice, to revoke the choice.

Imputation reference guide

A guide to imputation for businesses and their advisers

No wastage of current year tax losses and optional use of prior year tax losses

This fact sheet provides information on the operation of the no wastage of current year losses and optional use of prior year losses measures. It provides examples on how the new measures work.

PAYG instalments and prior year losses for companies

Information about pay as you go (PAYG) instalments for corporate tax entities and the optional use of prior year losses.

Refund of franking credits - frequently asked questions

Answers to frequently asked questions about the refund of franking credits for eligible non-profit organisations.

Refunding excess imputation credits - superannuation funds, approved deposit funds and pooled superannuation trusts

Explains how the refund of excess imputation credits impacts on superannuation funds, approved deposits funds and pooled superannuation funds. NAT 4335.

Refunding excess imputation credits snapshot view

Snapshot view of the measure relating to refunding excess imputation credits.

Refunding franking credits - individuals

An explanation of when individuals are eligible for a refund of excess franking credits and how to apply for a refund.

Refunding imputation credits - Trustees

In this fact sheet you will find an explanation of when trustees are eligible for a refund of excess imputation credits and how they are able to apply for the refund.

Refunding imputation credits: Overview

In this fact sheet you will find an explanation of when taxpayers are eligible for a refund of excess imputation credits and how they are able to apply for the refund.

Removing the intercorporate dividend rebate on unfranked distributions: legislation

Legislation relating to the removing the intercorporate dividend rebate on unfranked distributions. NAT 6249

Removing the intercorporate dividend rebate on unfranked distributions: overview

Broad overview of the intercorporate dividend rebate.

Removing the intercorporate dividend rebate on unfranked distributions: questions and answers

Questions and answers about removing the intercorporate dividend rebate on unfranked distributions. NAT 5462

Skilling module - Intercorporate dividend rebate

Welcome to the skilling product for Intercorporate Dividend Rebate.This skilling product has been produced by the Business and Education Skilling Team from the Business Tax Reform Implementation project.

Simplified imputation - franking a distribution

The rules will change the way in which franking entities frank a distribution. This document outlines which distributions can be franked, how an entity franks a distribution and what information must be provided on the distribution statements.

Simplified imputation - overview of the imputation system

This fact sheet provides an overview of the simplified imputation system. It also contains links to other fact sheets in the series on imputation.

Simplified imputation - the benchmark and anti-streaming rules

This fact sheet provides information on the benchmark and anti-streaming rules and the rules for determining an entity's franking period(s). It also contains links to other fact sheets in the series on imputation.

Simplified imputation - the franking account

The rules will simplify the way in which franking entities frank a distribution. This document outlines how franking credits and franking debits are recorded and the rules for converting franking surpluses into the new imputation system.

Simplified imputation - the tax effect of receiving a franked distribution

This fact sheet provides information on the tax effect of receiving a franked distribution. This fact sheet also contains links to other fact sheets in the series on imputation.

Simplified imputation system: frankability of non-share dividends

This factsheet explains the amendments relating to the frankability of Non-Share Dividends. These amendments rectify an anomaly that existed in the imputation rules that deal with non-share dividends.

Simplified imputation: comparative overview between the old and new imputation systems

This fact sheet provides a comparative overview between the old and new imputation systems.

Simplified imputation: co-operatives franking distributions

This fact sheet explains the proposed amendments that will allow a co-operative company to frank distributions made to their members from assessable income for the current income year.

Simplified imputation: FDT offset for late balancers

The following information will assist late balancing entities calculate their entitlement to a franking deficit tax (FDT) offset.

Simplified imputation: franking account tax return

Fact Sheet on the lodging of a franking account tax return.

Simplified imputation: Franking deficit tax liability and franking deficit tax offset - consolidation specific matters

This fact sheet explains the rules to allow franking deficit tax (FDT) to be offset against a liability for income tax in certain specific circumstances.

Simplified imputation: franking deficit tax liability for late balancing corporate tax entities

explains the transitional rules for a late balancing corporate tax entity that may have a franking deficit tax (FDT) liability at the end of its 2001-2002 income year, and the ongoing option for certain late balancing corporate tax entities to continue to have their FDT liability determined on a 30 June basis.

Simplified imputation: Franking deficit tax offset

This fact sheet explains the rules to allow franking deficit tax (FDT) to be offset against a liability for income tax.

Simplified imputation: franking period rules for early and late balancing corporate tax entities

In this fact sheet you will find an explanation of how the franking period rule is to operate for both early and late balancing corporate tax entities where the franking period straddles 1 July 2002.

Simplified imputation: instructions for an early balancing corporate tax entity to convert its franking account to a tax paid basis

Provides an explanation of the franking account conversion process for early balancing corporate tax entities.

Simplified imputation: non share equity interest and inter-corporate dividend rebate

Simplified imputation: consequential amendments to the imputation rulesIn this fact sheet you will find an explanation of the consequential amendments made to: remove the inter-corporate dividend rebate for unfranked dividends paid within wholly-owned corporate groups generally after 30 June 2003, and replicate provisions in the former imputation system in relation to distributions on non-share equity interests.

Simplified imputation: rules for exempting and former exempting entities

This fact sheet outlines the consequential amendments made to replicate the imputation provisions for exempting and former exempting entities. It also contains links to other fact sheets in the series on imputation.

Simplified Imputation System: Progress of legislation

The introduction of the simplified imputation system replaces the former imputation provisions that were contained in Part IIIAA of the Income Tax Assessment Act 1936.

Simplified imputation: are you lodging a franking account return unnecessarily?

The introduction of new and modified rules under the Simplified Imputation System has resulted in the need for changes to the 2003 Franking Account Tax Return (FAR) as well as new lodgement requirements.

Simplified imputation: entitlement to franking deficit tax offsets has become law

Tax practitioners need to be aware that the law allowing the offset for franking deficit tax against company tax assessed was enacted on 21 October, 2003. The new rules are contained in Taxation Laws Amendment Act (No. 8) 2003

Simplified imputation: Minister for Revenue & Assistant Treasurer's - Press Release

Minister for Revenue and Assistant Treasurer's Press Release relating to the simplified imputation measure.

The no wastage of current year losses and optional use of prior year losses measures have been enacted

The legislation that gives effect to the no wastage of current year losses and optional use of prior year losses measures has been enacted. These new rules are contained in the Taxation Laws Amendment Act (No.5) 2003 which received Royal Assent on 17 December, 2003.

Trans-Tasman imputation - information for New Zealand companies

Trans-Tasman imputation overview fact sheet