New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 13   Exempting entities and former exempting entities

Income Tax Assessment Act 1997

2   Subsection 204-30(4)

Repeal the subsection, substitute:

(4) The Commissioner may:

(a) specify the*franking debit under paragraph (3)(a) by specifying the*franking percentage to be used in working out the amount of the debit; and

(b) specify the*exempting debit under paragraph (3)(b) by specifying the*exempting percentage to be used in working out the amount of the debit.