INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteA franking credit of a company does not arise in relation to:
(a) the payment of a company tax instalment for a year of income; or
(aa) the making of an initial payment of tax that the company is required to make under section 221AP in respect of a year of income or the making of a further payment by the company on account of tax in respect of that year of income; or
(b) an assessment or amended assessment of company tax for a year of income; or
(c) a foreign tax credit allowable in respect of tax paid or payable by the company in respect of income derived in a year of income;
unless the company is sufficiently resident in the year of income.
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