Transfer of franking credits and debits where a group includes a non-Tasman company

  • In the case of a wholly owned group which includes a company that is not resident in Australia or NZ there are special rules for the franking account. Generally, franking debits or credits that would otherwise arise in the franking account of the subsidiary will be transferred to the franking account of the NZ parent. This will only apply when all NZ companies in the wholly owned group have made a NZ franking choice.
    Last modified: 07 Oct 2015QC 16903