Munsters Pty Limited had a Benchmark Franking Percentage of 75% for the year ended 30 June 2021. On 1 August 2020 it paid a fully franked dividend of $198,000 to its shareholders. Then on 1 May 2021 it paid a dividend franked to 45% of $120,000 to its shareholders. Munsters Pty Ltd pay tax at the 30% tax rate.

Required:

What are the consequences of these two events for Munsters Pty Limited for the year ended 30 June 2021? Only advise on the consequences for Munsters Pty Limited NOT its shareholders.