Income Tax Assessment Act 1997

Div 976 inserted by No 16 of 2003.

Definition of " applicable gross-up rate " inserted by No 41 of 2017, s 3 and Sch 4 item 21, applicable to the 2016-17 income year and later income years.

S 976-1 amended by No 76 of 2023, s 3 and Sch 6 item 32, by substituting the formula, effective 21 September 2023. The formula formerly read:

*Franking credit on the dividend

×

Applicable gross-up rate

S 976-1 amended by No 41 of 2017, s 3 and Sch 4 item 20, by substituting the formula, applicable to the 2016-17 income year and later income years. The formula formerly read:

*Franking credit on the distribution

×

*Corporate tax gross-up rate

S 976-1 amended by No 66 of 2015, s 3 and Sch 1 item 24, by substituting the formula, applicable to assessments for years of income starting on or after 1 July 2015. The formula formerly read:

	*Franking credit on the distribution	×	1 − *Corporate tax rate
			Corporate tax rate

S 976-1 inserted by No 16 of 2003.