INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIAA
-
FRANKING OF DIVIDENDS
Division 11
-
Additional tax by way of penalty
SECTION 160ARYB
160ARYB
CLASS B DEFICIT DEFERRAL TAX
-
PENALTY
A company is liable to pay, by way of penalty, additional tax equal to 30% of the class B deficit deferral tax that is payable by the company in relation to a refund if the class B deficit deferral amount that arises under subsection 160AQJB(2) in relation to the refund is greater than 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 B deficit deferral tax that is payable by the company in relation to a refund if the class B deficit deferral amount that arises under subsection 160AQJB(2) in relation to the refund is greater than the amount worked out using the following formula:
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.