Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)
Part 2 AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936
Division 4 Amendments to provide an exemption from dividend withholding tax
46 Liability to withholding tax
Section 128B of the Principal Act is amended by inserting after paragraph (3)(ga) the following paragraph:
"(gaa) income that consists of so much of a dividend as:
(i) remains after deducting any amount that has been franked in accordance with section 160AQF; and
(ii) does not exceed the foreign dividend account declaration amount (if any) in respect of the dividend under section 128TC;".
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