INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 19 - Miscellaneous provisions with respect to credits  

SECTION 160AN   APPLICATION OF CREDITS  

160AN(4)   [Distributable income of company]  

Where, in a year of income, an amount of credit to which a company is entitled is, in accordance with Division 3 of Part IIB of the Taxation Administration Act 1953 , applied or paid by the Commissioner, the amount of the distributable income of the company for that year of income for the purposes of Division 7 shall be increased by the aggregate of the amounts so applied or paid.