Franking account tax returns must be lodged on Tax Office pre-printed stationery. A large number of tax agents have been lodging the franking schedule to the income year tax return as a FAR. The schedules that have been received all have a notation at the bottom of the page stating that they cannot be lodged with the Tax Office.
Also, in many cases the schedule is being lodged as an attachment to the company income tax return. The due date for lodging the FAR is generally before the due date for lodging the company income tax return. Therefore, the majority of franking account tax returns lodged with a company income tax return will be late, and the general interest charge may apply to any outstanding amounts that relate to the lodgement of the franking account tax return.
For detailed information about the lodgement requirements for franking account tax returns and where to obtain a pre-printed form, please refer to the instruction material accompanying the Franking account tax return and instructions 2003 and the fact sheet Franking account tax returns.