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  • The dividend statement

    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 an Australian company pays or credits you a dividend, or a non-share dividend, the company should also send you a statement advising:

    • the amount of the dividend that is unfranked
    • the amount of the dividend that is franked
    • the amount of franking credit
    • the amount of tax file number (TFN) withholding tax withheld if you have not quoted your TFN to the company.

    Example

    On 15 February 2004, an Australian resident company, COALS TYER Ltd, paid John Citizen, a resident individual, a fully franked dividend of $700 and an unfranked dividend of $200. John received the dividend statement from COALS TYER Ltd shown below.

    End of example

    We will follow the COALS TYER example through the next few sections of this publication to see what John needs to do with the information.

    Example

    John's assessable income for 2003-04 in respect of the dividend is:

    Amount of franked dividend

    $700

    Franking credit

    $300

    Unfranked dividend

    $200

    Total assessable dividend income

    $1,200

    If these were the only dividends John was paid or credited with for the income year, he can transfer these amounts directly to item 11 on his 2003-04 tax return.

     

    End of example
    Last modified: 12 Jan 2005QC 27523