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 160APMAB   DEFICIT DEFERRAL AMOUNT  

160APMAB(1)   Class A deficit deferral amount.  

If a company receives a refund in relation to which a class A deficit deferral amount arises (see subsection 160AQJA(2) ) on a particular day, a class A franking credit of the company equal to the adjusted amount in relation to the class A deficit deferral tax payable in relation to the refund (see subsection 160AQJA(3) ) arises on that day.

160APMAB(2)   Class B deficit deferral amount.  

If a company receives a refund in relation to which a class B deficit deferral amount arises (see subsection 160AQJB(2) ) on a particular day, a class B franking credit of the company equal to the adjusted amount in relation to the class B deficit deferral tax payable in relation to the refund (see subsection 160AQJB(3) ) arises on that day.

160APMAB(3)   [Class C deficit deferral amount]  

If a company receives a refund, or a PAYG instalment variation credit arises, in relation to which a class C deficit deferral amount arises (see subsection 160AQJC(2) ) on a particular day, a class C franking credit of the company equal to the adjusted amount in relation to the class C deficit deferral tax payable in relation to the refund or PAYG instalment variation credit (see subsection 160AQJC(3) ) arises on that day.