INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history note(a) a class C franking credit of a company arises under section 160APME , 160APMF or 160APMG in respect of a PAYG instalment or company tax; and
(b) on a particular day, the company receives a refund of the PAYG instalment or the company tax; and
(c) the amount refunded is not attributable to a reduction of company tax covered by section 160APZ ;
a class C franking debit of the company arises on that day.
160APYBAA(2) [Amount]The class C franking debit is equal to the adjusted amount in relation to the amount of the refund.
160APYBAA(3) [Life assurance company]This section does not apply if the company is a life assurance company.
Note:
For the treatment of life assurance companies, see section 160AQCNCD .
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