Managed Funds Distribution and TFTs

Discussion in 'Shares & Funds' started by DaveA__, 5th Apr, 2007.

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  1. DaveA__

    DaveA__ Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    580
    Location:
    Sydney, NSW
    i have just recieved my 1st distribution from my managed fund. Anyway the amount recieved is lower than i calculated it to be.

    The difference works out to be 46.4%, i have not quoted my TFT number to the fund, so is this amount the top marginal tax rate withheld? Seems to be about the right figure but i hope its not the case....

    The dividend has franking credits attached to it, should this have some effect on how much tax they withhold if they are doing that??

    Cheers guys
     
    DaveA__, 5th Apr, 2007
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,414
    Location:
    Sydney
    I think you might be right there - if you don't quote your TFN, the fund is obliged to withhold 46.5% tax from any distributions. You can claim this back at tax time.

    I suggest you quote your TFN !!
     
    Simon Hampel, 6th Apr, 2007
    #2