INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIAA
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FRANKING OF DIVIDENDS
Division 2
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Franking surplus or deficit
Subdivision B
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General provisions on franking credits
SECTION 160APMAA
160APMAA
PAYMENT OF ADDITIONAL AMOUNT ON UPWARDS ESTIMATE
If, on a particular day, an amount payable under subsection 221AZR(1) is paid in respect of a year of income, there arises on that day whichever of the following is applicable:
(a) if the year of income is the 1994-95 year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount paid;
(b) if the year of income is the 1995-96 year of income or a later year of income - a class C franking credit of the company equal to the adjusted amount in relation to the amount paid.
View history note
Hide history noteIf, on a particular day, an amount payable under subsection 221AZR(1) is paid in respect of a year of income, there arises on that day whichever of the following is applicable:
(a) if the year of income is the 1994-95 year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount paid;
(b) if the year of income is the 1995-96 year of income or a later year of income - a class C franking credit of the company equal to the adjusted amount in relation to the amount paid.
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