Further information for New Zealand early balancers:
An early balancing New Zealand franking entity with an approved substituted accounting period of, for example, 31 March will need to lodge its franking account tax return and pay its franking tax liabilities by 30 April.
Early balancing entities should use our pre-printed Franking account tax return. The form is generally available from July of the income year. Early balancing entities will need to use a previous year's form. For example, if the New Zealand entity has a 31 March 2005 year end, you will need to use the Franking account tax return 2004. You will need to cross out the year '2004' and write '2005' instead. Entities with approved substituted accounting periods will also need to specify the period that the income year relates to. For example, a March year end New Zealand entity will specify '01/04/2004 to 31/03/2005' in the period boxes at the top of the Franking account tax return (above Section A).