S 717-500 repealed by No 147 of 2005, s 3 and Sch 2 item 16, effective 14 December 2005. For additional application provisions see note under Subdiv
802-A
heading.
S 717-500 formerly read:
What this Subdivision is about
717-500
Only the head company of a consolidated group has an operating foreign dividend account, so only the head company can make an FDA declaration to relieve from withholding tax a dividend paid by a member of the group to a foreign resident. The balance of the account reflects what has happened to all members of the group.
S 717-500 inserted by No 16 of 2003, s 3 and Sch 9 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec
700-1
of the
Income Tax (Transitional Provisions) Act 1997
).