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  • 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 FDT liability and OFT 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 FDT liability determined on a 30 June basis must lodge a franking account tax return by 31 July each year. This date is also the date by which the FDT is payable. Note that there are different lodgment obligations in relation to OFT liabilities and disclosure obligations for these entities. For more information, see 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 for 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)
    • 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.

    Subsidiary members of a consolidated group, where the head company has not notified us of the group’s formation, may still be obliged to lodge a franking account tax return and pay any franking tax liability. This obligation exists until we receive notification of the group’s formation. If the subsidiary member believes it will not have an obligation to lodge a franking account tax return because it will be a member of a consolidated group for the full income year, it may request a deferral of time to lodge.

    If the company does not subsequently form part of a consolidated group, the company will have to lodge a return and pay any franking tax amount owing. General interest charges may be applied back to the original due date.

    If the company lodges a return and pays its franking tax liability on the due date, and, subsequently, the head company notifies us that the company was a subsidiary member for the full year, the subsidiary member will need to contact us to amend the return to zero and request a refund of any franking tax amount paid for this tax return.

    Where to lodge

    Post your franking account tax return with your payment to:

    Australian Taxation Office
    Locked Bag 1793
    PENRITH  NSW  1793

    How to pay

    We offer you a range of convenient payment options, both in Australia and overseas.

    For more information, see How to pay.

    Your payment needs to reach us on or before its due date. Payments made electronically or at Australia Post may take up to 4 business days, from the date you make the payment, to appear on your ATO account.

    Last modified: 03 Oct 2019QC 55209