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Worksheet

Last updated 5 March 2020

Column 1: Company or fund

Column 2: Unfranked amount
S

Column 3: Franked amount
T

Column 4: Franking credit
U

Column 5: TFN amount withheld
V

-

$

$

$

$

-

$

$

$

$

-

$

$

$

$

-

$

$

$

$

-

$

$

$

$

-

$

$

$

$

Total

S

T

U

V

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

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

Note: This worksheet is to help you work out the amounts you need to put on your application form. You do not need to send this worksheet to the Tax Office.

Example: Franked amounts over multiple dividend statements

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

Note: This is just one example of a statement. There are many different formats.

Teleco Ltd Security holder reference number 018 012 111 Statement made out to: Steven McKay 2 Cable Circle Telegraph Point NSW 2441 Fully franked final dividend for the period ended 30 June 2004. Franked at a 30% tax rate. Date paid: 30 October 2004 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 TFN quoted. Dividend paid: $42.00

Steven also received three other statements:

  • JT Corporate Unit Trust - his dividend statement showed $120.23 unfranked amount.
  • Koles Bier Pty Ltd - he did not give the company his TFN so his entitlement of $180 unfranked amount had $87.30 tax withheld (therefore he actually received $92.70).
  • SDW Managed Investment Fund - his distribution statement shows a franked dividend amount of $131 and a franking credit of $56.14.

Steven would complete the worksheet like this:

Column 1: Company or fund

Column 2: Unfranked amount
S

Column 3: Franked amount
T

Column 4: Franking credit
U

Column 5: TFN amount withheld
V

Teleco Ltd

-

$42.00

$18.00

$

JT Corp Unit Trust

$120.23

-

-

-

Koles Bier Pty Ltd

$180.00
(see note)

-

-

$87.30

SDW Fund

-

$131.00

$56.14

-

Total

S $300.23

T $173.00

U $74.14

V $87.30

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

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

Note: This amount includes both the amount received by Steven and the TFN amount withheld ($92.70 + $87.30).

Steven completes the dividend details at item 11 on the application like this:

11 Dovodemds If you have more than one dividend or distribution statement, see pages 3-4 in the instructions Did you receive any dividend distributions from a managed fund or Australian franking credits from a New Zealand company? Yes See page 2 in the instructions Label S Unfranked amount: $300 Label T Franked amount: $173 Label U Franking credit: $74 Label V Tax file number amounts withheld from dividends: $87.30

Steven will receive a refund of $161.30 if he has no outstanding tax debts. This is made up of the amount withheld because he didn't provide his TFN ($87.30) plus his franking credit ($74).

End of example

QC27601