Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)

Schedule 3   Simplified Imputation System

Part 2   Miscellaneous consequential and technical amendments

Income Tax Assessment Act 1936

28   Subparagraph 102AAU(1)(c)(iii)

Omit "so much of a frankable dividend (within the meaning of Part IIIAA) as has been franked in accordance with section 160AQF or 160AQFA", substitute "the franked part of a distribution, or the part of a distribution that has been franked with an exempting credit".