Can I claim franking credits from previous years?
It's not too late to claim a refund of franking credits you received in the 2001, 2002 and/or 2003 income years. If you have not already claimed these credits phone 13 28 61 to receive an application for the year/s you wish to claim. You can lodge these applications by phone or by post.
Do I need to send my dividend or distribution statements to the Tax Office?
No. Keep your statements with a copy of your application.
The distribution statement from my managed fund shows 'capital gains', 'foreign source income' and, 'foreign tax credits'. Where do I put those amounts?
If you don't need to lodge a tax return don't worry about these amounts even if your statement tells you to put them at a specific item on the tax return. To process your application we only need the figures shown at 'franked amounts', 'unfranked amounts', 'franking credit' or 'TFN amounts withheld'.
Can I use this application to claim a refund for TFN amounts withheld or deducted from interest income?
No. You will need to lodge an income tax return to claim the TFN amounts withheld or deducted from interest income.
I chose to reinvest my dividends – can I still claim a refund of my franking credits?
Yes.
Can I use this application if I own shares or non-share equity interests in joint names with my spouse?
Yes, if you are eligible, you can use this application, stating only your share of the dividends and franking credits shown on the joint statement. If your partner is also eligible to claim a refund of franking credits, they must complete a separate application or lodge a tax return, stating only their share of the dividends and franking credits shown on the joint statement.
Will the refund affect my pension entitlement?
No. In most cases it will not affect your pension entitlement. If, however, you receive a distribution from a private company or trust, your pension entitlement could be affected.
I own shares in a New Zealand company. Am I entitled to claim all the franking credits in the dividend statement?
Not all New Zealand companies will pay dividends with Australian franking credits. If they do, you may only claim a refund of the Australian franking credits on the dividend. You cannot claim a refund of any New Zealand imputation credits.
My dividend statement from a New Zealand company includes a 'supplementary dividend'. Where should I include this amount?
Include this amount as an unfranked dividend. No franking credits are attached to supplementary dividends.