INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 7 - Dividends paid to trusts and partnerships  

Subdivision C - Adjustments in relation to section 160AQT amounts  

SECTION 160ARC   ADJUSTMENT WHERE TRUSTEE ASSESSED FOR COMPANY  

160ARC(1)   [Class A potential rebate amount]  

Where:

(a) a trustee is liable to be assessed under subsection 98(3) on a trust amount; and

(b) there is a class A flow-on franking amount in relation to the trust amount;

the trust amount shall be reduced by so much of the class A potential rebate amount in relation to the trust amount as does not exceed the trust amount.

160ARC(2)   [Class B potential rebate amount]  

If:

(a) a trustee is liable to be assessed under subsection 98(3) on a trust amount; and

(b) there is a class B flow-on franking amount in relation to the trust amount;

the trust amount is to be reduced by so much of the class B potential rebate amount in relation to the trust amount as does not exceed the trust amount.

160ARC(3)   [Class C potential rebate amount]  

If:

(a) a trustee is liable to be assessed under subsection 98(3) on a trust amount; and

(b) there is a class C flow-on franking amount in relation to the trust amount;

the trust amount is to be reduced by so much of the class C potential rebate amount in relation to the trust amount as does not exceed the trust amount.