Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 3 Simplified Imputation System
Part 2 Miscellaneous consequential and technical amendments
Income Tax Assessment Act 1936
51 Subsection 159GZZZQ(9)
Repeal the subsection, substitute:
Meaning of offsetable amount
(9) For the purposes of subsection (8), if the seller is entitled to a tax offset under Division 207 of the Income Tax Assessment Act 1997 in the seller's assessment for a year of income in respect of the dividend, the dividend consists of an offsetable amount worked out using the formula:
Amount of offset / Corporate tax rate
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).
