Show download pdf controls
  • Who must lodge a franking account tax return?



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    The franking account tax return must be completed for all Australian corporate tax entities and New Zealand franking companies that have:

    • a liability to pay franking deficit tax (FDT), and/or
    • a liability to pay over-franking tax (OFT), and/or
    • an obligation to disclose information to the Commissioner of Taxation in relation to any significant variation in their benchmark franking percentage.

    If there is such a liability or disclosure obligation the entity is required to complete Section A and the remaining labels on the franking account tax return that are relevant to that liability and/or obligation. If there is no such liability or disclosure obligation, lodgment of this tax return is not necessary.

    An entity is a corporate tax entity for the purposes of Part 3-6 of the Income Tax Assessment Act 1997 at a particular time if the entity is a company at that time, or a corporate limited partnership, corporate unit trust or a public trading trust in relation to the income year in which that time occurs.

    A company is a New Zealand franking company if the company:

    • is a New Zealand resident, and
    • has made an election to join the Australian imputation system.

    The Australian imputation rules will generally apply to a New Zealand franking company in the same way as they apply to an Australian corporate tax entity.

    Last modified: 02 Oct 2019QC 17477