Consolidation Reference Manual

The Consolidation reference manual was last updated on 15 July 2011. It does not contain any changes to consolidation legislation that has occurred since that time and will not be updated in future. It cannot be relied on for currency of content. For any future consolidation changes, you will be able to access information from our consolidation home page or by visiting our 'New legislation' page.
You can still refer to the Consolidation reference manual for consolidation information that has not been impacted by changes in the legislation.

C5 Franking credits

C5-0 About this section

About this section
The operation of franking accounts is briefly described in Part B of this Reference Manual → 'Transferring franking credits', B2-4. This section (C5) provides more detail on the treatment of franking credits under consolidation, supported by an example showing the treatment of: • any franking surplus or deficit on entry into consolidation • members' franking accounts during consolidation • distributions made by subsidiary members

About this section

The operation of franking accounts is briefly described in Part B of this Reference Manual → 'Transferring franking credits', B2-4.

This section (C5) provides more detail on the treatment of franking credits under consolidation, supported by an example showing the treatment of:

•: any franking surplus or deficit on entry into consolidation
•: members' franking accounts during consolidation
•: distributions made by subsidiary members

Current at 28 May 2003

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