Income Tax (Transitional Provisions) Act 1997

The entity must give the Commissioner a franking return for the balancing period setting out the following information before the end of the month immediately following the end of the period:

if the entity is a franking entity at the end of the balancing period—its franking account balance at the end of the period; and

if the entity ceases to be a franking entity during the balancing period—its franking account balance immediately before it ceased to be a franking entity; and

the amount (if any) of franking deficit tax that the entity is liable to pay under section 205‑25 of this Act because of events that have occurred, or are taken to have occurred, during the balancing period.

The return must be in writing in the approved form.