If your Pty Ltd Company is a Small business entity;

Unless the Franking Account is Adjusted correctly, this REFUNDABLE FRANKING CREDIT error may lead to additional tax called FRANKING DEFICIT DEFERRAL TAX

FRANKING ACCOUNT                           

Taxpayer: ABC PTY LTD                         TFN :

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Current postal address              

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Details of Franking account

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   Date   |    Transaction details     |      Debit|Item|     Credit|   Balance

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1/07/2015 | Opening Balance @ 30% tax  |           |    |       3000|          

30/06/2016|Income Tax for 2016 @ 28.5% |           |    |       2850|       5850

30/06/2017|Income Tax for 2017 @ 27.5% |           |    |       2750|       8600

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