Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)
Schedule 6 Repeal of dividend tainting rules
Income Tax Assessment Act 1997
5 Subsection 375-872(4)
Repeal the subsection, substitute:
Paragraph 202-45(e) does not apply
(4) Paragraph 202-45(e) does not apply to a payment that is taken to be a dividend under this section.
Note: Paragraph 202-45(e) provides that a distribution that is sourced, directly or indirectly, from a company’s share capital account is unfrankable.
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