Click this link for Item 11 - Dividend Income information on the ATO website.
This item is about dividends and distributions that were paid or credited to you by Australian companies that you had shares in.
Use the Gross Dividend worksheet (div) to record the individual transactions and then share some or all of them with a co-owner. These transactions may be entered in dollars and cents. Tax will total the entries and round them on integration to the relevant labels - Unfranked amount, Franked amount, Franking credit and TFN amounts withheld from dividends. Refer to Gross dividends worksheet (div).
From the Gross dividends worksheet (div) the Dividends deductions worksheet (ddd) can be opened.
Alternatively, you may use the Pre-fill report from the Tax Agent's Portal to complete this item. Doing so will avoid the necessity to share this income with another taxpayer as the Pre-fill report contains only the particular taxpayer's share of that income.
Click this link for Special circumstances and glossary information on Non-resident withholding tax on the ATO website.
Deductions relating to Dividend income must be entered at item D8 and if they are in excess of $4,999 the Interest and Dividend Deductions Schedule (BJ) must be completed and lodged with the return.
Label S - Unfranked amount
This is the total of amounts entered on the Dividend worksheet (div) for Unfranked dividends rounded down to the nearest dollar. If the worksheet is not used, key the amount to be included in assessable income. Show only the taxpayer's share of any jointly held Unfranked dividends.
When entering Unfranked dividends for non-Residents, select from the list the rate of tax to be applied to the Unfranked dividends. This is only required for the correct calculation of the withholding tax to be included in the tax estimate.
Label T - Franked amount
This is the total of amounts entered on the worksheet for franked dividends rounded down to the nearest dollar. If the Dividend worksheet (div) is not used, key the amount to be included in assessable income. Show only the taxpayer's share of jointly held dividends.
Label U - Franking credits
This is the total franking credit calculated in the worksheet at 30% of the amount entered as the Franked amount for each transaction. If the Dividend worksheet (div) is not used, key the amount to be included in assessable income. Show only the taxpayer's share of jointly held dividends.
Label V - TFN amounts withheld
This is the total amount entered on the worksheet for tax withheld where no TFN was quoted. If the Dividend worksheet (div) is not used, key the amount to be included in assessable income. Show only the taxpayer's share of jointly held dividends. The total amount of tax withheld cannot be more than 50% of the Unfranked amount.
CCH References
4-100 Overview: Taxation of dividend recipients
4-110 What is a dividend?
4-120 When is a dividend paid?
10-490 Dividends and distributions
