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Automatic Refund of Franking Credits Not Received

Newbie

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Replies 3

Hi ATO Community,

 

A few weeks back we received a letter from the ATO talking about the Automatic Refund of Franking Credits. The letter said we were eligible and we didn't have to do anything if we wanted to stay on this automatic process.

 

The letter gave a date range as to when we should expect the refund of franking credits to arrive in our nominated bank account as per the letter. However, that timeframe has now passed and we still haven't received the refund yet.

 

The letter mentioned that if we became ineligible we would be notified by the ATO, however we have not received any correspondence since.

 

Is there any particular reason or explanation as to what is going on? Do we need to manually fill in the franking credit refund form ourselves like in years past?

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Most helpful response

ATO Community Support

Replies 2

Hi @Mighty8,

 

Although the letter you received may state a particular date, we start issuing the refunds for Franking Credits from mid July until mid September.

 

My advice would be to allow up until mid September as there may be a slight delay in processing.

3 REPLIES 3

Most helpful response

ATO Community Support

Replies 2

Hi @Mighty8,

 

Although the letter you received may state a particular date, we start issuing the refunds for Franking Credits from mid July until mid September.

 

My advice would be to allow up until mid September as there may be a slight delay in processing.

Newbie

Replies 1

Hi @RenATO 

 

Thanks for your response. So just to confirm, despite the letter we received saying that we should expect the refund in early July, automatic refund of franking credits start to be processed from mid July to mid September? Is this also the timeframe we should expect to receive the refund as well?

 

Assuming we don't receive the franking credits still after the timeframe has elapsed, and we post a franking credit refund form, I understand it can take up to 50 business days to action. Just to confirm, as long as the ATO receives this by post before the end of October then that's completely fine?

 

Finally, if we choose to complete a physical franking credit refund form during this refund processing timeframe and post it in, but then receive our automatic refund, will we doubling up on the franking credits we get refunded or will the automatic refund be cancelled?

 

 

ATO Community Support

Replies 0

Hi @Mighty8

 

Sorry if your letter advised a certain date you'd receive your refund. The time-frame you can expect your refund is from mid-July to mid-September. The reason why we can't be more specific is because we receive the information from share registries or other third parties and sometimes they may be delayed in sending the info to us.