INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
A declaration that is made before a company's class C conversion time in relation to a dividend, or dividends, paid by the company where the beginning of the reckoning day for at least one of the dividends is after that time may, despite subsection 160AQF(2) , be varied, before the reckoning day, to take account of the introduction of class C franking credits and debits.
160ASN(2) [More than one dividend paid](a) a company pays more than one dividend under a resolution; and
(b) the beginning of the reckoning day for at least one of the dividends is before the class C conversion time for the company; and
(c) the beginning of the reckoning day for at least one of the dividends is after the class C conversion time for the company; and
(d) the franked amount of each of the dividends covered by paragraph (b) is substantially similar (taking into account the different classes of franking credits) to the franked amount of each of the dividends covered by paragraph (c);
the company is taken, for the purposes of subparagraphs 160AQF(1)(c)(ii), (1AA)(c)(ii) and (1AAA)(c)(ii) to have specified the same percentage for each of the dividends to which the resolution relates.
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