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
3 Paragraph 205-1(b)
Repeal the paragraph, substitute:
(b) then:
(i) in the case of a company whose 2001-02 franking year ends on 30 June 2002 under Part IIIAA of theIncome Tax Assessment Act 1936 - the company's franking account balances are converted under section 205-10 to a tax paid basis; and
(ii) in the case of a company whose 2001-02 franking year ends before 30 June 2002 under Part IIIAA of theIncome Tax Assessment Act 1936 - the company's franking account balances are converted under section 205-15 to a tax paid basis.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
