Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

9A

(a) the entity purchases a *membership interest in itself; and

(b) the purchase is an *off-market buy-back; and

(c) the entity is a *listed public company

an amount equal to the debit that would have arisen if:

(a) the purchase of the interest were a *frankable distribution equal to the one that would have arisen if the entity were not a listed public company; and

(b) the distribution were *franked at the entity's *benchmark franking percentage for the *franking period in which the purchase was made or, if the entity does not have a benchmark franking percentage for the period, at a *franking percentage of 100%

on the day on which the interest is purchased