"All unused taxation losses were incurred by Australian entities...

"All unused taxation losses were incurred by Australian entities that are part of the tax consolidated
group. The tax losses as disclosed above have not been recognised as they are not presently
available for use. Their availability is subject to the satisfaction of the same business test under Australia's​

tax loss integrity rules."

The above is part of the disclosure required by IAS 12. Same (figures) was reported in the 2013 notes.

In other words these tax losses can't be used presently to offset other taxable income. They are not a direct offset of tax payable.

Its up to the directors to decide the franking percentage of dividends.

Best way is to ring up the company and ask if they have (or had) an ATO tax liability as a result of operations to 31/12/14 noting that income tax returns may be lodged on a financial year basis and the balance of the franking account.

Ropoh