Taxation Laws Amendment Act (No. 2) 1999 (93 of 1999)
Schedule 5 Franking of dividends by exempting companies and former exempting companies
Income Tax Assessment Act 1936
24 Section 160APA
Insert:
class C exempting account balance , in relation to a former exempting company, means:
(a) if the company has a class C exempting surplus - the amount of the surplus; or
(b) if the company has a class C exempting deficit - the amount of the deficit; or
(c) otherwise - nil.
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