Is this a subsequent franking account tax return for the income year?
This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
End of attention
This question should only be answered yes if this is a subsequent franking account tax return that is being lodged because, either:
- the corporate tax entity has received a refund of income tax that affects its franking deficit tax liability-see A refund of income tax affecting a franking deficit tax liability, or
- the corporate tax entity is a late balancing entity that:
- elected to have its franking deficit tax liability determined on 30 June, and
- was required to lodge a franking account tax return on or before 31 July 2004 disclosing a franking deficit tax liability, and
- has an over-franking tax liability and/or an obligation to disclose a significant variation in its benchmark franking percentage.
If this is a subsequent franking account tax return for the income year print X in the yes box at this question, otherwise print X in the no box.
For more information see Over-franking tax and Section C Significant variation in benchmark franking percentage in these instructions.
Last modified: 18 Sep 2008QC 17477