Franking Credits Calculator
Gross up a fully or partially franked Australian dividend to reveal the attached franking credit, your grossed-up dividend, and an estimated tax refund or bill.
Your results
Calculation breakdown
- Franking credit
- $700.00 ÷ (1 − 30%) − $700.00 = $300.00, × 100% franked = $300.00
- Grossed-up dividend
- $700.00 + $300.00 = $1,000.00
Assumptions
- Assumes the standard 30% company tax rate unless changed, matching most large Australian companies.
- A negative net result means additional tax is payable rather than refunded.
How this calculator works
Australia's dividend imputation system means company tax already paid on profits is passed through to shareholders as a franking credit attached to their dividend, avoiding double taxation of the same income. This calculator grosses up a cash dividend by the company tax rate to find the full franking credit available, applies the franking percentage (100% for a fully franked dividend, less for partially franked), and adds that credit to the cash amount to produce your grossed-up (assessable) dividend. It then estimates tax payable on the grossed-up amount at your marginal rate and compares that to the franking credit to show whether you'd receive a net refund or owe additional tax. Shareholders on a marginal rate below the company tax rate typically receive a refund of excess franking credits, while those on a higher marginal rate generally owe additional tax on the dividend.
Rates sourced from the Australian Taxation Office for the 2026–27 financial year. Last reviewed 01/07/2026.
Frequently asked questions
What does 'fully franked' mean?
A fully franked dividend has 100% of the company tax paid on the underlying profit attached as a credit, meaning the whole dividend has already had company tax paid on it. A partially franked dividend only has a portion franked.
Can I get a cash refund of franking credits?
If your franking credits exceed your total tax payable for the year, the excess can be refunded as a cash refund when you lodge your tax return, which particularly benefits low-income shareholders and some superannuation funds.
Why does my tax outcome depend on my marginal rate?
The grossed-up dividend (cash amount plus franking credit) is added to your taxable income and taxed at your marginal rate, then the franking credit is subtracted as a tax offset, so your net outcome depends on where that rate sits relative to the company tax rate.
Rates and thresholds are configured for the 2026–27 Australian financial year and should be reviewed when government settings change.
Results are estimates only and are not financial, tax, legal or credit advice.