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Worksheet

Last updated 9 January 2005

Company or fund
(Column 1)

Unfranked amount
S
(Column 2)

Franked amount
T
(Column 3)

Franking credit
U
(Column 4)

TFN amount withheld
V
(Column 5)

-

$ 

$ 

$ 

$ 

-

$

$

$ 

$

-

$

$

$ 

$

-

$

$

$ 

$

-

$

$

$ 

$

-

$

$

$ 

$

-

$

$

$ 

$

Total

S

T

U

V

Transfer the totals for S, T and U to the application. Do not show any cents.

Transfer the total for V to your application. Show the cents.

Note

This worksheet can be used to help you work out the amounts you need to put on your application form. You do not need to send this worksheet to the Tax Office.

Start of example

Example

Steven received a dividend statement from Teleco Ltd. His statement showed a franked amount of $42.00 and a franking credit of $18.00.

Note: This is just one example of a statement. There are many different formats.

Teleco Ltd Steven McKay 2 Cable Circle Telegraph Point NSW 2441 Security holder reference number: 018 012 111 Date paid: 30 October 2003 Fully franked final dividend for hte period ended 30 June 2003. Franked at a 30% tax rate Class description: Ordinary shares Dividend rate per ordinary share: 7 cents Number of ordinary shares: 600 Franking credit: $18 Unfranked amount: nil Franked amount: $42 TFN quoted Dividend paid: $42

Steven also received three other statements:

JT Corporate Unit Trust - his dividend statement showed $120.23 unfranked amount.

Koles Bier Pty Ltd - he did not give the company his TFN so his entitlement of $180 unfranked amount had $87.30 tax withheld (therefore he actually received $92.70).

SDW Managed Investment Fund - his distribution statement shows a franked dividend amount of $131 and a franking credit of $56.14.

Steven would complete the worksheet like this:

Company or fund
(Column 1)

Unfranked amount
S
(Column 2)

Franked amount
T
(Column 3)

Franking credit
U
(Column 4)

TFN amount withheld
V
(Column 5)

Teleco Ltd

-

$42.00

$18.00

-

JT Corp Unit Trust

$120.23

-

-

-

Koles Bier Pty Ltd

$180.00
(see Note)

-

-

$87.30

SDW Fund

-

$131.00

$56.14

-

Total

S$ 300.23

T $173.00

U $74.14

V $87.30

Transfer the totals for S, T and U to the application. Do not show any cents.

Transfer the total for V to your application. Show the cents.

Note: This amount includes both the amount received by Steven and the TFN amount withheld ($92.70 + $87.30).

Steven completes the dividend details at item 11 on his application like this:

11 Dividends If you have more than one divided or distribution statement, see page 4-5 in the instructions. Did you receive any dividend distributions from a managed fund or Australian franking credits for a New Zealand company? See page 3 in the instructions. Label S Unfranked amount: $300 Label T Franked amount: $173 Label U Franking credit: $74 Label V Tax file number amounts withheld from dividends: $87.30

Steven will receive a refund of $161.30 if he has no outstanding tax debts. This is made up of the amount withheld because he didn't provide his TFN ($87.30) plus his franking credit ($74).

End of example

QC27524