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.