Free tool · statute cited
Franking credit calculator
A fully franked dividend carries a 30% company-tax credit, and for a super fund taxed at 15% or 0% that credit is refundable. Drag the slider for a rough refund from a single input: the grossed-up dividend, the credits, the tax owed, and the cash that comes back at lodgement.
This calculator provides an estimate for general information only, based solely on the figures you enter. It does not take into account your fund's actual parcels, holding periods, or circumstances, and is not to be relied on for any decision. Consider whether you need information or services from a licensed AFS provider. Not a licensed financial service.
Illustrative only. Uses Morningstar ASX 200 average yield (3.3%, Mar 2026) or Vanguard VHY high-dividend ETF yield (5.4%, Apr 2026). Assumes fully franked dividends at 30% corporate tax, 45-day holding rule met, pension balance within $2M Transfer Balance Cap (1 Jul 2025), no other fund income or deductions. Actual refund depends on your fund's full income, franking percentages across holdings, and deductions. Not a licensed financial service. Information only.
This is an estimate from one input. The product works from your actual parcels.
The arithmetic behind it
Gross yield times holdings gives the cash dividend. Grossing up by 30/70 adds the franking credit. The fund is assessed on the grossed-up amount at 15% in accumulation or 0% in pension phase, the 30% credit offsets that tax, and the excess is refunded in cash. The same arithmetic, with a worked example asserted in CI, is written up on the rule page.
Common questions about franking credits in an SMSF
- What is the franking gross-up?
- A fully franked dividend arrives with company tax already paid at 30%. For fund tax purposes the cash dividend is grossed up by 30/70 to the pre-tax amount, and the grossed-up figure is what the fund is assessed on. The mechanics are in ITAA 1997 Div 207.
- Why does an SMSF get a refund on franking credits?
- The franking credit is a refundable tax offset. A fund in accumulation phase pays 15% on the grossed-up amount but holds a 30% credit, so half the credit comes back. A fund wholly in pension phase pays 0%, so the whole credit is refunded in cash at lodgement.
- Does the 45-day holding rule affect this?
- Yes. The credits only stay with a parcel held at risk for at least 45 clear days around the ex-dividend date, and an SMSF gets no $5,000 small-shareholder exemption. This calculator assumes the rule is met; the 45-day checker counts the window for a specific parcel.
- Is this my fund's actual refund?
- No. It is an estimate from one input: your holdings figure and a yield assumption. The actual refund depends on your fund's full income, the franking percentage of each holding, and deductions. The product works from your actual parcels.
Not a licensed financial service. Information only. Source: ITAA 1997 Div 207.