INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf:
(a) a company makes a payment covered by section 160APMA , 160APMB , 160APMC or 160APMD ; and
(b) either:
(i) the company receives an amount as a refund of that payment (not being a refund covered by section 160APYB ); or
(ii) the Commissioner applies the payment against a liability of the company; and
(c) the amount refunded or applied, as the case may be, is not attributable to a reduction of company tax covered by section 160APZ ;
there arises, on the day on which the company receives the refund, or on the day on which that payment is applied, as the case may be, whichever of the following is applicable:
(d) if the payment mentioned in paragraph (a) is in respect of the 1992-93 year of income or an earlier year of income - a class A franking debit of the company equal to the adjusted amount in relation to the amount received or applied, as the case requires;
(e) if the payment mentioned in paragraph (a) is in respect of the 1993-94 year of income or the 1994-95 year of income - a class B franking debit of the company equal to the adjusted amount in relation to the amount received or applied, as the case requires;
(f) if the payment mentioned in paragraph (a) is in respect of the 1995-96 year of income or a later year of income - a class C franking debit of the company equal to the adjusted amount in relation to the amount received or applied, as the case requires.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
