Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 1   Franking of non-share dividends

Part 2   Amendment of the Income Tax Assessment Act 1936

8   After subsection 160APAAAB(12)

Insert:

(12A) A company's adjusted available frankable profits immediately after a committed share dividend is paid is the amount that would be its available frankable profits at that time if all committed share dividends to be paid after that time, and the non-share dividend, were ignored.