INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2 - Franking surplus or deficit  

Subdivision C - General provisions on franking debits  

SECTION 160APW  

160APW   RESIDENCE REQUIREMENT FOR DEBIT TO ARISE IN RELATION TO YEAR OF INCOME  
A franking debit of a company does not arise in relation to:

(a) the payment of a company tax instalment for a year of income; or

(aa) the making of an initial payment of tax that the company is required to make under section 221AP in respect of a year of income or the making of a further payment by the company on account of tax in respect of that year of income; or

(b) an amended assessment of company tax for a year of income; or

(c) a foreign tax credit allowable in respect of tax paid or payable by the company in respect of income derived in a year of income;

unless the company is sufficiently resident in the year of income.