Income Tax (Transitional Provisions) Act 1997
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Hide history noteThe entity must give the Commissioner a franking return for the balancing period setting out the following information before the end of the month immediately following the end of the period:
(a) if the entity is a franking entity at the end of the balancing period - its franking account balance at the end of the period; and
(b) if the entity ceases to be a franking entity during the balancing period - its franking account balance immediately before it ceased to be a franking entity; and
(c) the amount (if any) of franking deficit tax that the entity is liable to pay under section 205-25 of this Act because of events that have occurred, or are taken to have occurred, during the balancing period.
214-5(2)
The return must be in writing in the approved form.
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