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

Schedule 5   Franked distributions funded by capital raisings

Income Tax Assessment Act 1997

3   Application of amendments

(1) Subsection 207-159(1) of the Income Tax Assessment Act 1997 (as inserted by this Schedule) applies to a relevant distribution mentioned in that subsection that is made on or after the commencement of this Schedule.

(2) To avoid doubt, for the purposes of paragraph 207-159(1)(a) of the Income Tax Assessment Act 1997 (as inserted by this Schedule), a practice of making distributions referred to in that paragraph may be evidenced by distributions that were made before the commencement of this Schedule.