Are you owed a franking credit payment?

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If you own shares or managed funds, you are most likely eligible to receive refunds in the form of dividend imputation or franking credits after you file your tax return. In cases where the tax already paid exceeds the your marginal tax rate, the ATO will refund the difference in cash (under current rules).

This means tracking down all the paperwork related to dividends, including the shoebox of dividend statements from your share registries, and working out how much you are owed in franking credits. And, you don’t want to be surprised like Dick Smith, when he received his $500,000 in tax refunds from franking credits!

It doesn’t have to be a surprise either way. Being a disciplined investor and keeping track of your investments will better prepare you for the things that money can buy – like medical bills, a good holiday, or investments for the grandchildren.

Fortunately, with Sharesight — this is easier than ever.

Calculate your dividend income tax using Sharesight.

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