Franking distributions

This section covers the following key points:

  • Australian resident franking entities frank a distribution.
  • Only frankable distributions may be franked.
  • To frank a frankable distribution the entity allocates a franking credit to it.
  • The distribution statement provides evidence of the extent to which a frankable distribution has been franked.
  • The amount of franking credit allocated to a distribution is the lesser of the amount stated on the distribution statement or the maximum franking credit that may be allocated to the distribution.
  • The distribution statement may, with the Commissioner's permission, be amended in very limited circumstances.
  • The time at which a distribution statement must be provided depends on whether the entity is a private company or not.
    Last modified: 09 Jul 2014QC 17505