Imputation reference guide
A guide to imputation for businesses and their advisers. It will assist corporate tax entities to understand their obligations in regard to changes to imputation that came into effect on 1 July 2002. It is not intended for individual shareholders who receive distributions.
Where do I start?
This reference guide provides significant information on the full range of issues covered by the imputation system. You may begin at the introduction overview or go immediately to sections of interest. You will find detailed explanations of the obligations of corporate tax entities which pass franking credits for tax paid to their members, followed by worked examples of how to apply the rules, to assist you to understand what you need to do.
All references to legislation are to the Income Tax Assessment Act 1997 (ITAA 1997) unless stated otherwise.