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Filling in your refund of franking credits application form

How to fill in your Application for refund of franking credits form (NAT 4131) for not-for profit organisations.

Last updated 14 November 2024

What to look for on your statements

Not-for-profit 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 income year, that is, 1 July to 30 June or, if applicable, your ATO-approved substituted accounting period year end.
  • Where there is an entitlement to a distribution (for example, from a trust) make sure the statement you have is for the correct income year. That is, the year ended 30 June or, if applicable, your ATO-approved substituted accounting period year end, 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 form (NAT 4131 PDF, 287KB).

Calculating your refund

To calculate your refund amount, add up all the:

  • franking credits attached to franked dividends paid during the year ended 30 June or, if applicable, your ATO-approved substituted accounting period year
  • franking credits attached to distributions from trusts or managed funds for the year ended 30 June or, if applicable, your ATO-approved substituted accounting year.

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 your franking credits will be offset against these outstanding debts and the remainder (if any) will be refunded.

If you have shares in multiple companies or multiple franked distributions

Your organisation may be eligible for a refund of the franking credits on all the franked dividends that your organisation is paid, as well as all the franked distributions your organisation receives, for example, from trusts, in an income year.

It doesn't matter how many franked dividends your organisation is paid (or how many franked distributions it is entitled to for the relevant income year).

Your organisation only needs to submit one request for a refund for all the franked dividends paid and entitlements to franked distributions for the relevant income year.

If your income or tax payable is not zero

If your not-for-profit 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.

Authority to sign

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

  • trustee of the trust
  • office holder of the association or organisation
  • director of the company
  • company secretary
  • 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.

You are not required to send statements with your application. Keep the statements with a copy of the application form in your organisation's records. You should keep these records for 5 years. We may ask you to provide us with these records to verify your claims.

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

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 either:

  • 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.

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 your form.

Amendment of your refund

You can request an amendment of your assessment of refund of franking credits. For example, if you did not include certain franked dividends or franked distributions in your application and you have now received your assessment.

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

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:

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

Objection to your refund

You can object to income tax decisions made in respect of your assessment of refund of franking credits. There are time limits for making objections. You will need to notify us of your objection in writing, detailing your reasons.

Send your letter to us by either:

  • mail to
    Australian Taxation Office
    PO  Box  1032
    ALBURY  NSW  2640
  • fax to 1300 730 298.

 

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