INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteWhere:
(a) on a particular day, the Commissioner serves on a company a notice of an amended company tax assessment for an eligible year of income; and
(b) the amendment reduces the company tax of the company;
there arises on that day whichever of the following is applicable:
(c) if the year of income is 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 of the reduction;
(d) if the year of income is 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 of the reduction;
(e) if the year of income is 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 of the reduction.
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