Income Tax Assessment Act 1997
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Hide history noteSECTION 207-119 207-119 Entity not treated as exempt institution eligible for refund in certain circumstances
For the purposes of this Act:
(a) an entity must not be treated as an *exempt institution that is eligible for a refund in relation to a *franked distribution if section 207-120 , 207-122 or 207-124 applies to the entity in relation to the distribution; and
(b) a beneficiary of a trust must not be treated as an exempt institution that is eligible for a refund in relation to a franked distribution made in an income year if section 207-126 applies to the beneficiary in relation to that income year.
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