Hello,
Before we lodge an application for the above wanted to know roughly how much franking credits we could get from these shares. The shares are all from the same company and from a deceased estate.
Unfranked amount is 0 in all
2013 $ Franked amount $ Franking Credit
770 330
770 330
2014 797.50 341.79
825 353.57
2015 825 353.57
852.50 365.36
2016 852.50 365.36
852.50 365.36
2017 852.50 365.36
852.50 365.36
2018 605 259.29
605 259.29
2019 440 188.57
Hey @raani,
We can't calculate that for you here. The best option is to lodge the application so that it can be calculated correctly. I'd hate to tell you an amount and it be completely incorrect, and you've gotten your hopes up thinking you're going to receive it all back.
However, if the franking credits that you receive exceed the amount of tax you have to pay then you will receive this as a refund. This is called a refund of excess franking credits. You may also receive a refund of the full franking credits even if you don't usually lodge a tax return.
Hey @raani,
We can't calculate that for you here. The best option is to lodge the application so that it can be calculated correctly. I'd hate to tell you an amount and it be completely incorrect, and you've gotten your hopes up thinking you're going to receive it all back.
However, if the franking credits that you receive exceed the amount of tax you have to pay then you will receive this as a refund. This is called a refund of excess franking credits. You may also receive a refund of the full franking credits even if you don't usually lodge a tax return.
Thank you for your reply. I understand I wouldn't get it all back and just wanted an approximate figure because wanted to know if it was worth my while pursuing this matter (for refund of franking credits) or not.
However, thanks for explaining what happens if I did lodge an application.
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