FNSACC601 Prepare And Administer Tax Documentation For Legal Entities - Tax Assessment 13

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Task 9 Company Franking Accounts

Russell Pty Ltd is a small business taxpayer and paid tax at 27.5% and has provided the following information for the year ended 30 June 2018.
The benchmark franking percentage is 60%.

Required

Prepare the franking account for the year ended 30 June 2018.
Calculate any additional taxes payable.
What is the effect of the additional taxes payable on any future taxation assessment.

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