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 160APV   SUBSTITUTED ESTIMATED DEBIT DETERMINATION  

160APV(1)   [Class A franking credit arises]  

Where, on a particular day, the Commissioner serves on a company a notice of an estimated class A debit determination that is in substitution for an earlier determination, there arises on that day a class A franking credit of the company equal to the amount of the class A franking debit that arose because of the earlier determination.

160APV(2)   [Class B franking credit arises]  

If, on a particular day, the Commissioner serves on a company a notice of an estimated class B debit determination that is in substitution for an earlier determination, there arises on that day a class B franking credit of the company equal to the amount of the class B franking debit that arose because of the earlier determination.

160APV(3)   [Class C franking credit arises]  

If, on a particular day, the Commissioner serves on a company a notice of an estimated class C debit determination that is in substitution for an earlier determination, there arises on that day a class C franking credit of the company equal to the amount of the class C franking debit that arose because of the earlier determination.