Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 204 - Anti-streaming rules  

Subdivision 204-E - Disclosure requirements  

Operative provisions

SECTION 204-80   Commissioner may require information where the Commissioner suspects streaming  

204-80(1)    

The Commissioner may request the entity to give the Commissioner the following information:

(a) the entity ' s reasons for setting a benchmark franking percentage for the current franking period that differs significantly from the benchmark franking percentage for the last relevant franking period; and

(b) the *franking percentages for all *frankable distributions made in the current franking period and the last relevant franking period; and

(c) details of any other benefits given to the entity ' s *members, either by the entity or an *associate of the entity, during the period beginning at the beginning of the last relevant franking period and ending at the end of the current franking period; and

(d) whether any member of the entity has *derived, or will derive, a *greater benefit from franking credits than another member of the entity as a result of the variation in the benchmark franking percentage between the current franking period and the last relevant franking period; and

(e) any other information required by the *approved form that is relevant in determining whether the entity is streaming *distributions.

204-80(2)    
The entity must comply with the Commissioner ' s request.