Taxation Laws Amendment Act (No. 8) 2003 (107 of 2003)

Schedule 7   Tax offset arising from franking deficit tax liability

Part 1   Amendment of the Income Tax Assessment Act 1997

7   At the end of subsection 219-55(1)

Add:

Note: The operation of this section is affected by section 219-75 if a tax offset under section 205-70 is, or has been, applied to work out the company's income tax liability.