INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 11 - Additional tax by way of penalty  

SECTION 160ASB  

160ASB   REMISSION OF ADDITIONAL TAX  
The Commissioner may, in the Commissioner's discretion, remit the whole or any part of the franking additional tax payable by a company but, for the purposes of the application of subsection 33(1) of the Acts Interpretation Act 1901 to the power of remission conferred by this section, nothing in this Act prevents the exercise of the power at a time before the franking additional tax assessment is made.