Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 1 AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Omit the paragraph, substitute:

"(a) a company has become liable to pay:

(i) class A franking deficit tax for a franking year; or

(ii) class B franking deficit tax for a franking year; or

(iii) class A deficit deferral tax in relation to the refund of one or more instalments paid during a franking year; or

(iv) class B deficit deferral tax in relation to the refund of one or more instalments paid during a franking year;

or any combination of these taxes in respect of the same franking year; and".