Taxation Laws Amendment Act (No. 3) 1992 (98 of 1992)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 4   Amendments relating to pooled development funds Interpretation

14   Receipt of franked dividends

Section 160APP of the Principal Act is amended by inserting after subsection (3) the following subsection:

"(3A) In determining for the purposes of subsection (2) or (3) whether the dividend is wholly or partly exempt income of the shareholder, section 124ZM (which exempts dividends paid by PDFs) is to be disregarded.".