Simplified imputation - the benchmark and anti-streaming rules

This fact sheet provides information on the benchmark and anti-streaming rules and the rules for determining an entity's franking period(s). It also contains links to other fact sheets in the series on imputation.


Note: There have been some amendments made to the rules for establishing an entity's franking period. These amendments only apply to early and late balancing corporate tax entities which have franking periods that straddle 1 July 2002. For further information refer to, Simplified imputation: franking period rules for early and late balancing corporate tax entities

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Key points

  • the simplified imputation system took effect from 1 July 2002.
  • the benchmark rule forms the framework for ensuring that over time, the benefit of franking credits is spread more or less evenly across members in proportion to their ownership interest in a corporate tax entity.
  • there are also 4 specific rules proposed to ensure that franking credits representing tax paid on behalf of all members of an entity are not allocated to only some of the members. These rules are referred to as anti-streaming rules, because they prevent the streaming, or disproportionate allocation, of franking credits to certain members.

Status and changes

This fact sheet replaces a previous fact sheet published on 11 July 2002.

    Last modified: 28 Jul 2016QC 16620