Income year more than six and less than 12 months
Where the income year is more than six months but less than 12 months then an entity, other than a private company, has two franking periods.
The first franking period is the first six months beginning at the start of the income year, and the second is the remainder of the income year.
Example: Income year of less than 12 months
Banna Group, a corporate limited partnership, has nine months in a particular income year due to a transition from a standard balancer to a 31 March early balancer.
For that income year, Banna Group has two franking periods; the first franking period is from 1 July to 31 December and the second franking period is from 1 January to 31 March.
End of example