LODGMENT OF FRANKING ACCOUNT RETURNSLODGMENT OF FRANKING ACCOUNT RETURNS

LODGMENT OF FRANKING ACCOUNT RETURNS

Companies, including corporate trustees that are treated as companies for the purposes of Part IIIAA of the ITAA 1936, which have a deficit balance in the Class A or Class C franking account at the end of the 2001/2002 franking year and are required to pay franking deficit tax, are required to lodge a franking account return for that franking year.

Companies which have a nil or surplus balance in the franking account at the close of the franking year are not required to lodge a franking account return.

DATE OF LODGMENT OF FRANKING ACCOUNT RETURN

The franking account return must be lodged in the approved form by the last day of the month following the end of the franking year. (This is also the date on which the franking deficit tax is payable.)

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