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 1997
96 Section 208-170 (formula)
Omit the formula, substitute:
Exempting credit on the distribution * (Amount of the distribution that is not exempt income of the recipient / Amount of the distribution) * ((Amount of the distribution - Specified part of the distribution) / Amount of the distribution)
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