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Stake AUS dividend variances
ausWhy does my dividend payment seem lower than expected?
If your dividend appears lower (or higher) than the publicly announced gross amount, it’s likely due to franking credits, also known as imputation credits. These reflect the tax status of the company’s profits being distributed to shareholders.
Franking doesn’t change the total value of the dividend – but it does affect the cash amount you receive in your account.
How different dividend types affect your payment
Dividend type |
What it means for the company |
What you see in your account |
|---|---|---|
Franked (fully franked) |
The company has already paid corporate tax on the profits being distributed. |
You receive a reduced cash amount. The tax portion (franking credit) is claimed at tax time. |
Unfranked |
No corporate tax has been paid on the profits (often due to foreign earnings or offsets). |
You receive the full gross dividend as cash. |
Partially franked |
Only part of the profit has had tax paid. |
You receive full cash for the unfranked portion, and reduced cash for the franked portion. |
Key point
Franking credits are a tax credit, not a cash payment. They help reduce your tax liability when you lodge your tax return – but they don’t increase the cash deposited into your Stake account.
U.S. domiciled, ASX-listed equities and W-8BEN
Some ASX-listed companies earn U.S. income (e.g. U.S. ETFs or dual-listed shares), which may trigger U.S. withholding tax.
Action required: To reduce the withholding rate from 30% to 15% under the U.S.–Australia tax treaty, you need to submit a W-8BEN form.
Important: Unlike your Stake Wall St account (where the W-8BEN is completed automatically), for ASX holdings, you'll usually need to contact the share registry directly to complete and submit the form.
Tax File Number
Although providing your TFN is not mandatory, any Australian-sourced dividend payments processed without a TFN on file are subject to a higher, mandated withholding tax rate. We must apply this rate unless the TFN is provided.
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