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

Schedule 7   Tax offset arising from franking deficit tax liability

Part 3   Consequential amendments

Taxation Administration Act 1953

20   Application

The amendment made by item 19 applies in relation to the calculation of an entity's adjusted tax:

(a) for a base year that is the first income year (within the meaning of section 205-75 of the Income Tax (Transitional Provisions) Act 1997) or a later income year; and

(b) only for the purposes of a PAYG instalment period that includes, or starts after, the day on which this Act receives the Royal Assent.