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Question

Welterweight Pty Limited (Welterweight) is a resident private company and is not a base rate entity. Which of the following transactions would result in a credit entry to Welterweight's franking account?

Receipt of partnership net income with franking credits allocated Payment of a frankable distribution subject to overfranking

Receipt of an unfranked dividend from an Australian company

Receipt of trust net income with no franking credits allocated.

Reference no: EM133971444

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