INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIAA
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FRANKING OF DIVIDENDS
Division 11
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Additional tax by way of penalty
SECTION 160ARYA
160ARYA
CLASS A DEFICIT DEFERRAL TAX
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PENALTY
A company is liable to pay, by way of penalty, additional tax equal to 30% of the class A deficit deferral tax that is payable by the company in relation to a refund if the class A deficit deferral amount that arises under subsection 160AQJA(2) in relation to the refund is greater than 10% of the amount worked out using the following formula:
View history note
Hide history noteA company is liable to pay, by way of penalty, additional tax equal to 30% of the class A deficit deferral tax that is payable by the company in relation to a refund if the class A deficit deferral amount that arises under subsection 160AQJA(2) in relation to the refund is greater than 10% of the amount worked out using the following formula:
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