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 CA
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Franking debits of life assurance companies where relevant year of income is no later than 1999-2000
SECTION 160AQCNB
COMPANY THAT IS A PARTY TO A SCHEME TO ENABLE FRANKING CREDIT BENEFITS TO BE OBTAINED
160AQCNB(1)
[When franking debit or exempting debit arises]
(a) a company is a party to a scheme to which section 177EA applies; and
(b) the Commissioner makes a determination under paragraph 177EA(5)(a) in respect of a dividend paid by the company under the scheme;
160AQCNB(2)
[Calculation of debit]
View history note
Hide history note[ CCH Note: Note that there is a second Subdiv CA, comprising s 160AQCNCA to 160AQCNCE, that appears later in this Division.]
(a) a company is a party to a scheme to which section 177EA applies; and
(b) the Commissioner makes a determination under paragraph 177EA(5)(a) in respect of a dividend paid by the company under the scheme;
a franking debit or exempting debit of the company will arise under paragraph 177EA(10)(a).
The amount of the franking debit or exempting debit is worked out under paragraph 177EA(10)(b).
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