• K Franked dividend amount

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

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    Show at K the total amount of franked dividends and franked non-share dividends that the fund received.

    Do not show at K:

    • franking credits attached to the dividends included at K; show these at L
    • franked dividends that the fund received from a New Zealand franking company; show these at D1 Gross foreign income and D Net foreign income.

    The franked part of a distribution from a PDF is exempt from income tax, unless you elect to include the amount in the fund’s assessable income. In that case, the franked part of the distribution and the franking credit on the distribution worked out in accordance with Subdivision 207-A of the ITAA 1997, are included in the fund’s assessable income. Show the franked part of the distribution at K and the attached franking credit at L. If you did not make such an election do not show the franked part of the distribution at K or the attached franking credit at L.

    If the fund qualifies for a venture capital franking credits tax offset, so much of the franked part of the distribution that is franked with a venture capital credit is exempt from income tax. You cannot elect to include this amount in the fund's assessable income; do not show it at K. However, the fund may claim a tax offset in relation to a distribution franked with a venture capital credit even though the distribution is exempt from income tax. The tax offset is included C2 Rebates and offsets item 12.

    The amount of exempt income must also be taken into account when working out the amount of the fund’s tax loss at M Tax losses deducted item 11.

    Last modified: 21 Aug 2015QC 44343