Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 204 - Anti-streaming rules  

Subdivision 204-A - Objects and application  

SECTION 204-1  

204-1   Objects  

The objects of this Division are to ensure that:

(a) an entity and its *members cannot avoid the effect of the *benchmark rule by exploiting the *benchmark franking percentage of another entity; and

(b) an entity does not stream *franked distributions and *tax-exempt bonus shares; and

(c) an entity does not stream *distributions to members of the entity who *derive a *greater benefit from franking credits than other members.