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  • Dividend income

    We may send you a letter about your dividend income if a company reports they paid dividends to you, but this does not match the amount declared in your tax return.

    The letter will include a schedule showing the relevant information from your tax return compared with information we hold.

    If the income has been declared in an associated tax return (for example, a partnership, trust, company or superannuation fund), you need to advise us of the tax file number (TFN) and dividend amounts shown on that tax return.

    You should ask the company to record that TFN on their register. This will help match the dividends to the correct tax return in future.

    Understanding your dividend income schedule

    Below is a sample dividend income schedule. Keep in mind that your schedule will contain your own details and may not look exactly the same.

    Sample dividend income schedule

    Dividend income discrepancy schedule
    for the year ended 30 June 2015

    Total of dividend reported (shown below):

    $3,654

    Credit reported:

    $592

    Dividend income shown in your tax return:

    $1,000

    Credit declared:

    $892

    Discrepancy:

    $2,654

    Discrepancy:

    $300

     

    Source of income

    Account number

    Dividend amount

    Credit amount

    Investment Company Pty Ltd

    9999999

    $2,654

    $317

    Top Trading Pty Ltd

    88888

    $1,000

    $275

    The following definitions will help you understand your schedule:

    • Total of dividend reported – The total of dividend amounts reported to us, as detailed in the 'source of income section' of the schedule.
    • Dividend income shown in your tax return – The dividend income you declared in your tax return.
    • Discrepancy – The difference between what is reported to us by financial institutions and what you declared in your tax return. Two discrepancy figures are shown: one for dividend income and one for the credit amount.
    • Credit reported – The credit amount reported to us by financial institutions. This is also called a franking credit.
    • Credit declared – The credit amount you declared in your tax return.
    • Source of income – A list of each source of dividend income, as reported to us.
    • Account number – The account number for each source of dividend income reported to us.
    • Dividend amount – The dividend amount for each source of dividend income reported to us.
    • Credit amount – The franking credit amount for each source of dividend income reported to us.

    Next step:

    See also:

    Last modified: 11 Feb 2016QC 41705