Required for every frankable distribution
Under the Australian imputation law, if your entity makes a frankable distribution, you must give the recipient a distribution statement.
You must give a distribution statement that satisfies the requirements listed under New Zealand franking companies to all members who receive a distribution that was frankable (according to the Australian rules) whether or not:
- Australian franking credits were attached to the distribution
- the recipients of the distribution can claim any credits for Australian franking credits that are attached to the distribution in their tax return.