Income Tax Assessment Act 1997
View history note
Hide history noteThe *imputation system applies to a *co-operative company in the same way as it applies to any other company but with the modifications set out in this section.
218-5(2)
Each reference to a *distribution is taken to include a reference to an amount distributed as mentioned in paragraph 120(1)(a) or (b) of the Income Tax Assessment Act 1936 .
218-5(3)
Despite subsection 202-75(1) (about giving distribution statements), a *co-operative company does not have to give the recipient of a *frankable distribution a *distribution statement unless the *franking percentage for the distribution is greater than zero.
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