Income Tax Assessment Act 1997
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Hide history noteSECTION 220-100 Residency requirement for franking 220-100(1)
An *NZ franking company satisfies the residency requirement when making a *distribution only if the distribution is made at least one month after the notice constituting the company's *NZ franking choice was given to the Commissioner.
Note:
This section is relevant to both section 202-5 and section 208-60 , which let a company frank a distribution, or frank a distribution with an exempting credit, only if the company satisfies the residency requirement when making the distribution.
220-100(2)
Section 202-20, as applying because of section 220-25 , has effect subject to this section.
Note:
Section 202-20 sets out how a company satisfies the residency requirement when making a distribution.
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