INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 7B - Tainted share capital accounts  

Subdivision C - Life assurance companies  

SECTION 160ARDX  

160ARDX   CONSEQUENCES OF ELECTION TO UNTAINT - FRANKING DEBIT  
If a company elects to untaint its share capital account under section 160ARDW :

(a) a class A franking debit of the company arises on the day of the election equal to the amount of the class A franking debit specified in the election; and

(b) a class C franking debit of the company arises on the day of the election equal to the amount of the class C franking debit specified in the election.