My accountant is away for another 2 weeks, so I am hoping someone else may be able to answer this.
I have my own private company that I use for share trading of which I am the sole director/shareholder.
I want to pay a dividend to myself next week from this company. I'm not fully au fait with how the franking account works, but it has about $2k in franking credits and I want to make a dividend payment of about $20K. By year end the company will have a lot more franking credits available, certainly enough to pay a fully franked $20K dividend.
Am I able to make next week's dividend payment fully franked, even though there isn't currently enough franking credits to do so, knowing that there will be by year end.