Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 6 Loss carry back consequential amendments
Part 2 Other amendments
Income Tax Assessment Act 1997
59 Subsection 205-30(1) (after table item 2)
Insert:
|
2A |
the entity *receives a *tax offset refund; and the entity does not satisfy the *residency requirement for the income year to which the refund relates; and the entity was a *franking entity during the whole or part of the income year to which the refund relates; and the entity's *franking account is in *surplus on the day on which the refund is received |
the lesser of: (a) that part of the refund that is attributable to the period during which the entity was a franking entity; and (b) the amount of the *franking surplus |
on the day on which the refund is received |
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