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  • Filling in your application form

    For information about how to complete your application form, refer to Completing your application for refund of franking credits.

    What to look for on your statements

    Organisations need to look for the following information on their dividend and distribution statements when applying for a refund of franking credits:

    • the amount of franking credits
    • where there is a dividend, the date of payment – make sure the statement you have is for the correct financial year that is, 1 July 2018 to 30 June 2019
    • where there is an entitlement to a distribution (for example, from a trust) make sure the statement you have is for the correct financial year. That is, the year ended 30 June 2019 and that the statement is in the organisation’s name.

    Distribution statements showing different amounts

    Total distributions from trusts and managed funds should be written at label A on the application form. The total distributions can include any amounts of foreign source income or capital gains tax. Total distributions can also include unfranked amounts. There is no need to add up these amounts if they have already been included in the total distribution amount on the distribution statement.

    A distribution statement may show the distribution amount inclusive of any franking credit. Where this occurs, the amount at label A must be reduced by the amount of the franking credit.

    ABN and TFN fields

    Australian business number (ABN): your ABN will be pre-printed on your organisation's personalised application form. If your organisation is an endorsed income tax exempt charity or DGR, it was given an ABN as part of the endorsement process.

    Tax file number (TFN): your TFN will be pre-printed on your organisation's personalised application form. Your organisation may not have been previously notified its TFN. All organisations registered with an ABN have also been allocated a TFN. We use the TFN to process your application faster.

    Note: Do not make changes to these labels on the application form if they are incorrect. Phone us on 1300 130 248 to request a replacement form.

    Calculating your refund

    • To calculate your refund amount, add up all of the following:
      • franking credits attached to franked dividends paid during the year ended 30 June
      • franking credits attached to distributions from trusts or managed funds for the year ended 30 June
      • show this amount at label B.
       
    • If your organisation has any tax liabilities outstanding or other debts that are collected by us, some or all of your franking credits will be offset against these outstanding debts and the remainder (if any) will be refunded.

    Authority to sign

    To sign the declaration you must be an authorised person for your organisation. Such a person might include:

    • the trustee of the trust
    • an office holder of the association or organisation
    • a director of the company
    • the company secretary
    • the public officer of the company.

    Incomplete declaration details may delay the processing of your organisation’s application.

    Dividend or distribution statements

    Your organisation should keep all dividend and distribution statements it receives. If you need to send copies of your organisation’s dividend or distribution statements to us with your application, the letter accompanying your organisation's application form will advise you of this.

    If you are not required to send any statements with your application, keep the statements with a copy of the application form in your organisation's records. These records should be kept for five years. We may ask you to provide us with these records to verify your claims at a later time.

    Do not send dividend and distribution statements to us with your application form unless we ask you to.

    If you made a mistake on your application

    If you made a mistake (for example, you have not included a franked dividend or franked distribution or the amount of a franking credit), write to us. Explain what the correction is for and the reason for the change. Send your letter to us by:

    • mail to
      Australian Taxation Office
      PO Box 1032
      ALBURY NSW 2640
    • fax to 1300 130 900.

    Your letter must be signed and dated by the authorised person of your organisation and include your organisation's:

    • full name
    • postal address
    • contact phone number
    • ABN.

    If you have already submitted an application that you have made a mistake in, do not lodge another application.

    Disputing your refund

    Your organisation can dispute a refund it does not agree with. If you do not agree with the amount of refund your organisation received and want to dispute it, you will need to notify us in writing detailing your reasons. Send your letter to us by:

    • mail to
      Australian Taxation Office
      PO Box 1032
      ALBURY NSW 2640
    • fax to 1300 130 900.

    Assessment of your refund

    You can request an assessment of your refund of franking credits. Changes to the tax law mean your organisation now has objection rights and time limits in which to amend its claims for tax offset refunds (here being a refund of franking credits). This means your organisation now has objection rights and time limits in respect of its claims for tax offset refunds.

    These changes apply to franking credits attached to dividend income paid on and after 1 July 2013 and the entitlement to franked distributions from 1 July 2013 onwards.

    There are time limits for requesting an amendment to an assessment. We cannot amend an assessment if the time limit has passed.

    See also:

    Notice of assessment

    Your organisation will receive a notice of assessment if you are a:

    • trust or a government entity, we will give you a notice of assessment
    • company, a notice of assessment will be deemed to have been given when you lodge this form.

    If an amendment is made to any original assessment, we will give you a notice of amended assessment.

    A notice of assessment or a notice of amended assessment will include the following information:

    • the amount of your organisation’s taxable or net income (or that the amount is zero)
    • the amount of the tax payable on that taxable or net income (or that the amount is zero)
    • the total of your organisation’s tax offset refunds (or that the amount is zero).

    If your income or tax payable is not zero

    If your organisation's taxable income, net income or tax payable is not zero, then you are not eligible to use this application form to claim a refund of franking credits.

    Your organisation will need to claim a refund of franking credits by lodging its income tax return.

      Last modified: 04 Jun 2019QC 16343