Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 200 - Guide to Part 3-6  

SECTION 200-20   How a distribution is franked  

200-20(1)    
A corporate tax entity franks a distribution by allocating a franking credit to it.

200-20(2)    
The amount of the franking credit on the distribution is the amount specified in a statement that accompanies the distribution.

200-20(3)    
Only some kinds of distribution can be franked. These are called frankable distributions.