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 2020 to 30 June 2021
- 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 2021 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
Complete the Australian business number (ABN) and tax file number (TFN) fields on your Application for refund of franking credits.
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 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 later.
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 730 298.
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 730 298.
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. There are also income tax decisions you can object to with time limits.
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.