I am doing my individual tax return and have some dividends which are franked from Australian companies. The statements from my broker only shows the dividend amount and that the whole amount was franked or not. There is no column or info about what the franking credit was, if any and how much.
In the past I simply put all my dividends in the "unfranked" field on the return, even though some are franked.
This year, when I try to put the franked ones in the franked field and thus separating the franked ones from the unfranked ones, it wants me to put in the amount received in franking credits.
I have no clue how much that is, since that information was not given.
Looking on ATOs website it is most frustrating and convoluted where it explains to companies how this franking stuff works with various factors, and if you are paying the reduced company tax rates, etc, etc,.
I am an individual, have no idea what company tax rate the company is supposed to pay, what their franking limits are etc.
So how must a lay many work out a franking credit so the tax man is happy?
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