Dividend washing

We’ve used best endeavours to undertake calculations to arrive at the amount of denied franking credits disclosed as a result of dividend washing, having regard to the assumptions stated below:

• Assets affected are Listed fully-paid ordinary shares
• The company has paid a franked dividend (a dividend with an entitlement to an attached franking credit)
• Shares are sold without an entitlement to the dividend (ex div), on or between ex-date and ex-date + 3 days
• New shares are bought with an entitlement to the dividend (cum div), on or after the sale date up to and including ex-date + 3 days
• When a different number of shares are bought to the number of shares sold, the calculation will deny the franking credit entitlement on the smaller of the shares sold and shares bought.

Please note

The amount of franking credits denied has been disclosed in the Tax Report - Summary and in the Denied Franking Credit (DF) section of the Tax Report - Detailed.

We recommend that investors seek independent taxation advice in order to determine the appropriate treatment of these franking credits.