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Application for refund of franking credits for individuals1 July 2018 to 30 June 2019 For individuals who do not need to lodge a tax return2019You must read the publication Refund of franking credits
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How to fill out refund of franking credits

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How to fill out refund of franking credits

01
To fill out a refund of franking credits, follow these steps:
02
Obtain the necessary forms from the tax department or download them from their website.
03
Fill in personal details such as name, address, and tax file number.
04
Provide information on the shares and dividends for which you are claiming the franking credits refund.
05
Calculate the total amount of franking credits you are eligible for refund and enter it in the appropriate section.
06
Attach any supporting documents or statements that are required to substantiate your claim.
07
Review the completed form for accuracy and make sure all necessary information is provided.
08
Submit the form and any supporting documents to the tax department as directed.
09
Await confirmation and processing of your refund claim.
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If further information is required, cooperate with the tax department and provide any additional documentation or clarifications as requested.
11
Remember to keep a copy of the completed form and all supporting documents for your records.

Who needs refund of franking credits?

01
Refund of franking credits is typically needed by individuals or entities who have received dividends from shares and have paid excess franking credits. This may include:
02
- Individual taxpayers who are not required to pay tax or have a tax liability below the value of the franking credits.
03
- Individuals with low incomes or retirees who have franking credits that exceed their tax liability.
04
- Trusts or partnerships that distribute franking credits to their beneficiaries or partners.
05
- Companies or other entities that do not have any taxable income but have paid tax on their dividends received and are entitled to a refund of the franking credits.
06
It is important to consult with a tax professional or refer to the relevant tax regulations for specific eligibility criteria.
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Refund of franking credits is a process where excess franking credits can be returned to the taxpayer by the Australian Taxation Office.
Individuals or entities who have excess franking credits and meet certain criteria are required to file for refund of franking credits.
To fill out refund of franking credits, taxpayers need to complete the appropriate form provided by the Australian Taxation Office and submit it along with supporting documentation.
The purpose of refund of franking credits is to return excess franking credits to taxpayers who are entitled to them.
Taxpayers must report their personal details, details of the franking credits being refunded, and any supporting documentation as required.
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