INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Where a company receives an amount as a refund under subsection 221AQ(3) , 221AR(6) , 221AU(4) , 221AV(4) , 221AW(5) or 221AX(14) , there arises, on the day on which the company receives the amount, whichever of the following is applicable:
(a) if the refund is in respect of the 1992-93 year of income or an earlier year of income - a class A franking debit of the company equal to the adjusted amount in relation to the amount received;
(b) if the refund is in respect of the 1993-94 year of income or a later year of income - a class B franking debit of the company equal to the adjusted amount in relation to the amount received.
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