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Australian Taxation Law BENCH MARK RULE Class illustration 2 On 1 September 2019. Docklands Pty Ltd made its first frankable distribution to its shareholders for

Australian Taxation Law

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BENCH MARK RULE Class illustration 2 On 1 September 2019. Docklands Pty Ltd made its first frankable distribution to its shareholders for the 2019/2020 tax year. This amounted to $140,000. Docklands wants to pass on a $55,000 franking credit to its shareholders for this distribution. Required: Advise Docklands Pty Ltd of the maximum franking credit that it can attach to the distribution; and its benchmark franking percentage for the 2019/2020

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