• Lodgment and payment requirements

    Attention

    Warning:

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

    End of attention

    When to lodge

    Generally, the franking account tax return must be lodged and the franking deficit tax liability and/or over-franking tax liability must be paid on the last day of the month following the end of the income year.

    Late balancing corporate tax entities that elect to have their franking deficit tax liability determined on 30 June each year must lodge a franking account tax return by 31 July each year. This date is the date by which the franking deficit tax is payable. Please note that there are different lodgment obligations in relation to over-franking tax liabilities and disclosure obligations for these entities. For more information see Important messages for late balancing corporate tax entities that elect to have their FDT liability determined on 30 June.

    There are some different lodgment and payment rules that arise in relation to certain refunds received within three months after:

    • the end of the income year (or the period ending 30 June for certain late balancing corporate tax entities), or
    • a corporate tax entity ceases to be a franking entity.

    For more information on these different lodgment and payment rules see A refund of income tax affecting a franking deficit tax liability.

    Last modified: 18 Sep 2008QC 17477