Franking Credit Refund

Youi2018 on 21/06/2019 - 10:28
Last edited 21/06/2019 - 10:38 by 1 other user

Hi

For this coming financial year my earnings will be in the tax free threshold
So wont be paying tax

But i have received franking credits from dividends

Will i get a tax refund on these ?

Thanks

• 

  Baysew on 21/06/2019 - 10:33

  If you are required to lodge a tax return, you declare your dividend income, including unfranked amounts, franked amounts and franking credits in your Tax return for individuals. We then use this information to work out your refund.

  If you are not required to lodge a tax return, you can still claim a refund of your franking credits.

  Apply for a refund

  Has any tax be deducted from your income?
  Did you do a tax return last financial year?
  Will your income be above the tax free threshold next financial year?

  • 

    Youi2018 on 21/06/2019 - 11:04

    +1

    Yes tax has been deducted for this financial year
    Yes i done a tax return last year
    No it probably wont be for next year as well

    • 

      Baysew on 21/06/2019 - 11:06

      +4

      You need to do a tax return to get tax deducted back, so just add your dividends/franking credit into return.

      • 

        Youi2018 on 21/06/2019 - 11:12

        +1

        Thank you !

• 

  Youi2018 on 21/06/2019 - 11:02

  Yes tax has been deducted for this financial year
  Yes i done a tax return last year
  No it probably wont be for next year as well