Was the SMSF paid franked dividends, including franked non-share dividends?
No |
Leave K blank. Go to L. |
|---|---|
Yes |
Read on. |
Write at K the total amount of franked dividends, and franked non-share dividends, that were paid to the SMSF. The amount at K should not be reduced by any loss or outgoing related to the income.
If you include an amount at K that is exempt current pension income, also include it at Y Exempt current pension income.
Do not include:
- franking credits (include these at L Dividend franking credit)
- franked dividends that are a share of net income from a trust (include these at M Gross trust distributions)
- franked dividends that are part of a distribution from a partnership (include these at I Gross distribution from partnerships)
- franked dividends that are part of a distribution from a pooled development fund (unless you have elected to include the franked dividends in the SMSF's assessable income)
- franked dividends from a New Zealand franking company (include these at D1 Gross foreign income)
- franked dividends on which family trust distribution tax has been paid
- franked dividends that are non-arm's-length income of a complying SMSF (include these at U1 Net non-arm's length private company dividends).
L Dividend franking credit
Were franking credits attached to dividends paid to the SMSF for which it is entitled to a franking credits tax offset?
No |
Leave L blank. Go to M. |
|---|---|
Yes |
Read on. |
Write at L the total amount of the franking credits:
- attached to franked dividends, and franked non-share dividends, paid to the SMSF in 2016–17, and
- for which the SMSF is entitled to a franking credits tax offset (see Entitlement to a franking credits tax offset).
In addition to including a franking credit at L, you must also include it at either:
- E1 Complying fund’s franking credits tax offset in Section D if the SMSF is a complying fund
- C2 Rebates and tax offsets in Section D if the SMSF is a non-complying fund.
If you include an amount at L that is exempt current pension income, also include it at Y Exempt current pension income.
The amount at L should not be reduced by any loss or outgoing related to the income.
Do not include:
- the dividend that the franking credit is attached to (include it at K Franked dividend amount)
- franking credits where the SMSF is not entitled to a franking credits tax offset (do not include these anywhere on the SMSF annual return)
- franking credits that are part of a share of net income from a trust (include these at M Gross trust distributions)
- franking credits that are part of a distribution from a partnership (include these at I Gross distribution from partnerships)
- Australian franking credits from a New Zealand franking company (include these at E Australian franking credits from a New Zealand company)
- franking credits that are part of a distribution from a pooled development fund (unless you have elected to include franked dividends and thus the franking credits in the SMSF's assessable income)
- franking credits on which family trust distribution tax has been paid
- franking credits attached to a dividend that is non-arm's-length income of a complying SMSF (include these at U1 Net non-arm's length private company dividends).