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The fund is eligible to claim Australian Franking Credits from New Zealand Companies. How do I reflect that in Class?

Issue

The fund is eligible to claim Australian Franking Credits from New Zealand Companies. How do I reflect that in Class?

Process Foreign Dividends by

Navigating to Fund level > Transactions > Fund Income > Foreign Income

Field Descriptions

Field Name	Field Description	Field Validations	Example
Income Type	Type of Investment Income being processed	Default to Foreign Income	N/A
Investment Account	The holding account that corresponds to the company that paid the dividend	Mandatory field	Fletcher Building Limited
Investment Account	All investments with a Market Type of Foreign Investment Assets will be available to this event. Furthermore, any Listed Securities that Class Super has identified as receiving Foreign Income will also be available to this event. If you identify a Listed Security that should be made available to this event, then contact Class Super immediately.	Mandatory field	Fletcher Building Limited
Investment Account Type	The type of Foreign Income being processed.	Must select Taxable Foreign Income	N/A
Description	The details of the event processed	Defaults to Investment Income, but it is an editable field.	Foreign Income
Accounting Date	This is the tax effective date of the income.	Mandatory field.	1/07/2012
Payment Date	This is what will be used for matching purposes.	Mandatory field.	15/07/2012
Gross Payment	The Australian Dollar equivalent of the Income received before any Foreign Withholding Tax.	Mandatory field.	$1,234.22
Foreign Tax Credits	The amount of any foreign tax withheld from the dividend received.	Non Mandatory field, unless there is a foreign tax credit component.	$200.44
Net Payment	This should equal the cash received.	System will auto populate based on the Gross Payment amount less the Foreign Tax Credit amount.	$1,033.78
Australian Franking Credits from NZ Company	The amount franking credits you are entitled to claim for this dividend.	Non Mandatory field, unless the holding account is a NZ Company.	$345.22

SMSF Annual Return

The amount that you enter into the Gross Income Amount field will appear at labels D1 - Gross foreign income and D - Net foreign income of Section B: Income of the SMSF Annual Return.
The amount that you enter into the Australian Franking Credits from NZ Company field will appear at label E - Australian franking credits from a New Zealand company of Section B: Income of the SMSF Annual Return.

The amount you enter into the Foreign Tax Credit Amount field will appear at label C1 - Credit: foreign income tax offsets of Section D: Income tax calculation statement, subject to the Foreign Income Tax rules.

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