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  • Instructions for the worksheet

    If you have more than one dividend or distribution statement, follow these steps to fill in the worksheet and calculate the amounts to show at item 10 on your application.

    Next step:

    Step 1

    Collect all the statements for dividends you received and for distributions you were entitled to for the period 1 July 2019 to 30 June 2020. Using steps 2 to 4, transfer the information from each statement to the appropriate columns in the worksheet.

    Step 2

    Print the company or fund name shown on your statement under Company or fund.

    Step 3

    Write the amount of any unfranked (or supplementary), franked or franking credit amounts in the appropriate columns.

    You must subtract the amount of any supplementary dividend from the amount of franking credits that you include in the worksheet if:

    • your dividend is from a New Zealand company
    • that company paid you a supplementary dividend, and
    • you paid New Zealand non-resident withholding tax on that dividend.
    • Do not include New Zealand imputation credits in the Franking credit column (only include Australian franking credits).

    If your statement does not show the franked and unfranked portions of the dividend, include the total dividend amount in the Franked amount column.

    Step 4

    Write any TFN amounts withheld (or deducted) from dividends in the TFN amount withheld column.

    Step 5

    The worksheet will automatically provide a total for the amounts you have entered in each column.

    Step 6

    Print X at the YES box at item 10 on your application, if you have received:

    • any dividend distributions from a managed fund, or
    • Australian franking credits from a dividend paid by a New Zealand company.

    Step 7

    Transfer the total amounts of unfranked amount, franked amount and franking credit from your worksheet to S, T and U at item 10 on your application. Do not show cents.

    Step 8

    Transfer the total TFN amount withheld amount from your worksheet to V at item 10 on your application. Show cents.

    Worksheet

    You can access an Excel version of the Refund of franking credit for individuals worksheetThis link will download a file(XLSX 11KB). This worksheet will help you if you have more than one dividend or distribution statement.

    Transfer the totals for S, T and U to your application. Do not show cents.

    Transfer the total for V to your application. Show cents.

    This worksheet is to help you work out the amounts you need to put on your application. You do not need to send this worksheet to us.

    Example

    Steven received a dividend statement from Teleco Ltd. His statement showed a franked amount of $42.00 and a franking credit of $18.00.

    The statement below is just an example. There are many different formats of statements.

    Teleco Ltd Steven McKay 2 Cable Circle Telegraph Point NSW 2441 Security holder reference number: 018 012 111 Date paid: 30 October 2019 Fully franked final dividend for the period ended 30 June 2019. Franked at a 30% rate. Class description: Ordinary shares Dividend rate per ordinary share: 7 cents Number of ordinary shares: 600 Franking credit: $18.00 Unfranked amount: nil Franked amount: $42.00 Dividend paid $42.00

    Steven also received three other statements:

    JT Corporate Unit Trust Steven's dividend statement showed $120.73 unfranked amount.

    Koles Bier Pty Ltd Steven did not give the company his TFN so his entitlement of $180 unfranked amount had $84.60 tax withheld (therefore he actually received $95.40).

    SDW Managed Investment Fund Steven's distribution statement showed a franked dividend amount of $131 and a franking credit of $56.14.

    Steven would complete the worksheet like this:

    Company or fund

    Unfranked amount (Label S)

    Franked amount (Label T)

    Franking credit (Label U)

    TFN amount withheld (Label V)

    Teleco Ltd

    -

    $42.00

    $18.00

    -

    JT Corp Unit Trust

    $120.73

    -

    -

    -

    Koles Bier Pty Ltd

    $180.00

    -

    -

    $84.60

    SDW Fund

    -

    $131.00

    $56.14

    -

    Total

    $300.73

    $173.00

    $74.14

    $84.60

    Transfer the totals for S, T and U to your application. Do not show cents.

    Transfer the total for V to your application. Show cents.

    Note: This amount includes both the amount received by Steven and the TFN amount withheld ($95.40 + $84.60).

    Steven completes the dividend details at item 10 on his application like this:

    10 Dividends If you have more than one dividend or distribution statement, see pages 3-5 in the instructions. Did you receive any dividend distriutions from a managed fund or Australian franking credits from a New Zealand company? (See page 3 in the instructions). Yes Label S Unfranked amount: $300 Label T Franked amount: $173 Label U Franking credit: $74 Label V Tax file number amounts withheld from dividends: $84.60

    Steven will receive a refund of $158.60 if he has no outstanding tax debts.

    TFN amount withheld + Franking credit = Refund

    $84.60 + $74 = $158.60

    End of example
    Last modified: 28 May 2020QC 62120