New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)
Schedule 18 Imputation system transitionals
Income Tax (Transitional Provisions) Act 1997
1 After Division 201
Insert:
Division 203 Benchmark rule
203-1 Franking periods straddling 1 July 2002
Where, but for this section, 1 July 2002 would fall within a franking period for a corporate tax entity, but would not be the first day of the franking period, the franking period:
(a) is taken to begin at the start of 1 July 2002; and
(b) is taken to end when it would otherwise have ended.
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