Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 7   Tax offset arising from franking deficit tax liability

Part 3   Consequential amendments

Taxation Administration Act 1953

22   Application

The amendment made by item 21 applies in relation to the calculation of an entity's benchmark instalment rate, or benchmark tax, for an income year that is the first income year (within the meaning of section 205-75 of the Income Tax (Transitional Provisions) Act 1997) or a later income year.