INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf, on a particular day, a company tax instalment payable under section 221AZK is paid in respect of a year of income, there arises on that day whichever of the following is applicable:
(a) if the year of income is the 1994-95 year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount paid;
(b) if the year of income is the 1995-96 year of income or a later year of income - a class C franking credit of the company equal to the adjusted amount in relation to the amount paid.
Note:
See section 160APME for franking credits for PAYG instalment payments.
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