I am in the process of doing a tax return for a company that has a taxable income of $15000. Due to franking credits they have no tax to pay. Do I still need to use up the carried forward losses to make the taxable income nil or can I save these for a year when tax is ultimately payable?
yes losses must be applied.
Franking credits cannot be used to create a refund in a company. any excess are grossed up and treated as a carried forward loss.
yes losses must be applied.
Franking credits cannot be used to create a refund in a company. any excess are grossed up and treated as a carried forward loss.
6 Feb 2026 · 4 min read time
24 Aug 2025 · 3 min read time
15 Apr 2026 · 3 min read time
202 views
1 replies