INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2 - Franking surplus or deficit  

Subdivision B - General provisions on franking credits  

SECTION 160APL   CARRY FORWARD OF FRANKING SURPLUS  

160APL(1)   [Class A franking surplus]  

Where a company has a class A franking surplus at the end of a franking year, there arises at the beginning of the next franking year a class A franking credit of the company equal to that class A franking surplus.

160APL(2)   [Class B franking surplus]  

If a company has a class B franking surplus at the end of a franking year, there arises at the beginning of the next franking year a class B franking credit of the company equal to that class B franking surplus.

160APL(3)   [Class C franking surplus]  

If a company has a class C franking surplus at the end of a franking year, there arises at the beginning of the next franking year a class C franking credit of the company equal to that class C franking surplus.