INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 5 - Franking of dividends  

Subdivision C - Franking deficit tax and deficit deferral tax to offset company tax  

SECTION 160AQKAC  

160AQKAC   CONSEQUENCES OF OFFSET ENTITLEMENT - REDUCTION OF COMPANY TAX LIABILITY  
If the Commissioner determines that a life assurance company is entitled to an offset under section 160AQKAA in relation to company tax for an eligible year of income, the company's liability to pay company tax for the eligible year of income is reduced by the amount of the offset.


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