Income Tax Assessment Act 1997
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Hide history noteSECTION 220-110 220-110 Maximum franking credit under section 202-60
For the purposes of working out the *maximum franking credit for a *frankable distribution made by an *NZ franking company in a *foreign currency, translate the amount of the distribution into Australian currency at the exchange rate applicable at the time of the decision to make the *distribution.
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