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 160APM  

160APM   PAYMENT OF COMPANY TAX INSTALMENT  
If, on a particular day, a company tax instalment payable under section 221AZK 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.

Note:

See section 160APME for franking credits for PAYG instalment payments.