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 160APMC
160APMC
FINAL PAYMENT OF TAX
If, on a particular day, a company makes a final payment of tax in respect of a year of income under section 221AZD , there arises on that day whichever of the following is applicable:
(a) if the year of income is the 1992-93 year of income or an earlier year of income - a class A franking credit of the company equal to the adjusted amount in relation to the amount of that payment;
(b) if the year of income is the 1993-94 year of income or a later year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount of that payment.
View history note
Hide history noteIf, on a particular day, a company makes a final payment of tax in respect of a year of income under section 221AZD , there arises on that day whichever of the following is applicable:
(a) if the year of income is the 1992-93 year of income or an earlier year of income - a class A franking credit of the company equal to the adjusted amount in relation to the amount of that payment;
(b) if the year of income is the 1993-94 year of income or a later year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount of that payment.
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