Taxation Laws Amendment Act (No. 2) 1999 (93 of 1999)

Schedule 5   Franking of dividends by exempting companies and former exempting companies

Income Tax Assessment Act 1936

8   Paragraph 109ZC(3)(a)

Repeal the paragraph, substitute:

(a) section 160APP, 160APPA or 160AQCNC (which gives, to companies receiving franked dividends or exempted dividends, franking credits or exempting credits except to the extent to which the dividends are exempt income); or