What is a franking credit?
Dividends paid to shareholders by Australian resident companies are taxed under a system known as imputation. The tax paid by the company is allocated to shareholders as franking credits attached to the dividends they receive.
You are able to see your franking credits in your Dividend Statement, which can be accessed from the Reports tab of your Superhero account. You can seek advice from your accountant or tax adviser on how Franking credits may be used to reduce your tax liability for income associated with any dividends.
To be eligible for franking credits, you need to provide your tax file number (TFN) to Superhero. If you have provided your TFN to Superhero, your Dividend Statement will specify that your TFN is ‘held’. If not, please contact our Customer Support team via chat or email to provide your TFN.
Where can I find my dividend statements?
Superhero provides two types of dividend statements:
- Income Report: Shows your dividends between the dates selected.
- Attribution Managed Investment Trust Member Annual Statements: detailed information regarding dividends for exchange-traded funds (ETFs).
You can find these in the Reports tab of your Superhero account, which can be accessed via your web browser or mobile app.
Will I be paid any dividends via Superhero?
You will be paid cash dividends into your Superhero Wallet.
When a company declares a dividend, the total amount will be available in your Dashboard under Pending until it is paid. Once a dividend is paid, the amount will be deposited into your Superhero Wallet, usually within 1-2 business days after the payment is made. A transaction record and your dividend statement can be found under Activity.
Will I receive franking credits on shares I buy/hold via Superhero?
Yes, any applicable franking credits are passed on to you via Superhero. To find out if you are eligible to claim franking credits, it’s best to check with your accountant or visit www.ato.gov.au for more information.
