Franking credits are a form of tax credit that are attached to dividends. Franking credits can be used to offset your tax. If you have funds invested in Common Fund No. 3 (CF-3), you will have franking credits. If you do not know if you have funds invested in CF-3, ask your Client Services Officer or check your latest trust tax statement. 

If the value of the franking credits is higher than the tax, you may have ‘excess franking credits’ and be able to claim a refund. You can see if you have excess franking credits by checking your trust tax statement.  

Why should you claim excess franking credits? 

You may get money back from the Australian Taxation Office if you have excess franking credits that are higher than any tax you need to pay.

How can you claim excess franking credits? 

There are different ways you can claim your excess franking credits. The Australian Taxation Office’s How to apply for a refund of franking credits webpage has an explanation of the different ways you can claim excess franking credits.

If you do not have any other income outside of your funds held in Court, we can help you to claim the excess franking credits from the Australian Taxation Office. This service is free of charge. Contact your Client Services Officer for more information.  

Where can you get more information? 

If you have any questions, please contact your Client Services Officer or the Accounting and Taxation team by calling 1300 039 390 or emailing requests@fundsincourt.vic.gov.au.