Note I am not an accountant but want to understand the likelihood of franking credits on our next dividend.
I see on page 70 of the annual report that there was $539m of deferred tax asset at 31 Dec 2021. $63m of this amount relates to tax losses and offsets which I see the 30% of earnings tax gets written off against. I understand that franking credits are created when the company starts paying income tax. I assume it is when the tax loss and offsets assets is written down to 0 which only takes 63/0.3=$210m of profits. Yal could easily have made $2.5bn of profits for the half year before tax. Does that mean that we could be getting franking credits with the dividend?
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Projected Half Yearly Dividend for FY 22, page-5
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