Debits not subject to the FDT offset reduction

Franking debits arising under items 4, 7, 7A, 7B or 9 and in some circumstances item 2 of the table in section 205-30 of the ITAA 1997 will not be taken into account when determining whether the FDT offset reduction applies and the amount of the reduction. See Table 2 for details of the debits relating to these items.

Franking debits arising under items 10, 11 and 12 of the table in section 205-30 (in relation to friendly societies) will also not be taken into account.

Show at K the amount of debits that arose in the corporate tax entity’s franking account under items 4, 7, 7A, 7B and 9 of the table in section 205-30 of the ITAA 1997 for the period to which this Franking account tax return relates.

If no franking debits arose in the corporate tax entity’s franking account under items 1, 3, 5 or 6 of the table in section 205-30 of the ITAA 1997, also show at K any franking debits that arose under item 2 Franking debits that arise when the entity receives a refund of income tax.