Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 2   Foreign residents' income with an underlying foreign source

Part 2   Other amendments

Income Tax Assessment Act 1997

13   Paragraphs 703-75(3)(c) and (d)

Repeal the paragraphs, substitute:

(c) for the purposes of determining the respective balances of the *franking accounts of the original company and the interposed company at and after the completion time.