Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 208 - Exempting entities and former exempting entities  

Subdivision 208-E - Distributions to be franked with exempting credits to the same extent  

Operative provisions

SECTION 208-100  

208-100   Consequences of breaching the rule in section 208-90  

If an entity *franks a *distribution with an exempting credit in breach of section 208-90 :

(a) that distribution is taken not to have been franked with an exempting credit; and

(b) each other *frankable distribution made by the entity within the relevant *franking period is taken not to have been franked with an exempting credit.