INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1 - Interpretation  

SECTION 160APH   COMMISSIONER MAY DETERMINE THAT PERIOD BE TREATED AS A FRANKING YEAR  

160APH(1)   [Companies changing accounting periods]  

For the purpose of ensuring the effective operation of this Part in relation to companies whose accounting periods change, where:

(a) a company that is an early balancing company for the purposes of subsection 221AB(1) adopts a different accounting period, or has an accounting period that commences or ends under section 18A ; or

(b) a company becomes, or ceases to be, an early balancing company for the purposes of that subsection;

the Commissioner may, by notice in writing served on the company, determine that a period specified in the notice shall be treated as a franking year in relation to the company.

160APH(2)   [Period specified]  

The period specified in the notice may:

(a) commence earlier than the date of service of the notice; and

(b) be shorter or longer than a period of 12 months.