Show download pdf controls
  • Worksheet

    Attention

    Warning:

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

    End of attention

    If you have more than one dividend or distribution statement the following steps will help you fill in the Worksheet and calculate the amounts to show at item 11 on your application.

    Worksheet

    Column 1

    Column 2

    Column 3

    Column 4

    Column 5

    Company or fund

    Unfranked amounts

    Franked amounts

    Imputation credit

    TFN amounts withheld

     

    $     cents

    $     cents

    $     cents

    $     cents

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total

    S

    T

    U

    V

    When transferring the totals for S, T, and U to your form-do not show any cents

    Step 1

    Collect all the statements for dividends you received or distributions you were entitled to for the period 1 July 2002 to 30 June 2003. Using steps 2 to 7 transfer the information from each statement to the appropriate columns in the worksheet below.

    Step 2

    Print the company or fund name shown on your statement in column 1.

    Step 3

    Write the amount of any unfranked, franked or imputation/franking credit amounts in the appropriate columns.

    Note: If your statement does not show the franked and unfranked portions of the dividend, include the total dividend amount in column 3 'Franked Amount'.

    Step 4

    Write any TFN amounts withheld (or deducted) from dividends into column 5.

    Step 5

    Repeat steps 2 to 4 if you have more than one dividend or distribution statement.

    Step 6

    Add up the amounts in columns 2, 3, 4 and 5 and write them at Total- S, T, U and V on the worksheet.

    Step 7

    If you have received any dividend distributions from a managed fund you will need to print an X at the managed fund question on page 2 of your application.

    Step 8

    Transfer the amounts at S, T and U on your worksheet to S, T and U item 11 on your application. Do not show any cents.

    Step 9

    Transfer the amount at V on your worksheet to V item 11 on your application. Include any cents.

    Step 10

    Add up the amounts shown at S, T and U on your application and write the total at Total dividend income $.

    Stop: If you are over 18 years of age on 30 June 2003 and the amount at $ is more than $6,000, or you are under 18 years of age on 30 June 2003 and the amount at $ is more than $416, you cannot use this application. You will need to lodge a tax return to claim your refund.

    Step 11

    Read, sign and date Your declaration on page 2 of your application.

     

    Example

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

    Teleco Ltd. Steven McKay 2 Cable Circle, Telegraph Point NSW 2441. Security holder reference number 018 012 111 Date paid 30 October 2002. Fully franked final dividend for the period ended 30 June 2002. Franked at a 30% tax 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
TFN quoted
Dividend paid $42.00

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

    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 an imputation/franking credit of $56.14.

    Steven would complete the worksheet like this:

    Column 1

    Column 2

    Column 3

    Column 4

    Column 5

    Company or fund

    Unfranked amounts

    Franked amounts

    Imputation credit

    TFN amounts withheld

     

    $     cents

    $     cents

    $     cents

    $     cents

    Teleco Ltd

    0

    42.00  

    18.00  

    0

    JT Corp Unit Trust

    120.23  

    0

    0

    0

    Koles Bier Pty Ltd

    180.00* 

    0

    0

    87.30  

    SDW Fund

    0

    131.00  

    56.14  

    0

    Total

    S         300.23

    T          173.00

    U           74.14

    V           87.30

    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 his application like this:

    U Imputation credit 74
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 imputation credit ($74).

     

    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 imputation/franking credit ($74).

    End of example
    Last modified: 09 Dec 2019QC 16834