Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-6
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THE IMPUTATION SYSTEM
Division 202
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Franking a distribution
Subdivision 202-D
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Amount of the franking credit on a distribution
Guide to Subdivision 202-D
SECTION 202-55 202-55 What is the maximum franking credit for a frankable distribution?
The maximum franking credit for a distribution is equivalent to the maximum amount of income tax that the entity making the distribution could have paid, at the entity ' s corporate tax rate for imputation purposes for the income year in which the distribution is made, on the profits underlying the distribution.
View history note
Hide history noteSECTION 202-55 202-55 What is the maximum franking credit for a frankable distribution?
The maximum franking credit for a distribution is equivalent to the maximum amount of income tax that the entity making the distribution could have paid, at the entity ' s corporate tax rate for imputation purposes for the income year in which the distribution is made, on the profits underlying the distribution.
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