a) On 1 July 2019, the directors of a small company, Jumbo Pty Ltd paid their shareholders a dividend of $300,000 fully franked dividends. Unfortunately, it was not a good year and on 1 June 2020, the directors only gave a dividend to shareholders of $150,000 and unfortunately, could only give a 50% franked dividend, identify the taxation issue, quantify it, and state whether corrective actions must be taken, referring to appropriate tax legislation. (2 marks)