INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThere arises on the day of an on-market purchase by a company of a share a class A franking debit of the company equal to the amount (if any) calculated under subsection (2).
The amount is the amount that would be calculated under subsection 160AQDB(1) as the class A required franking amount for a dividend paid on that day to a shareholder in the company if that and any other on-market purchase by the company had been an off-market purchase.
There arises on the day of an on-market purchase by a company of a share a class B franking debit of the company equal to the amount calculated under subsection (4).
The amount is the amount that would be calculated under subsection 160AQDB(2) or 160AQDB (3) as the class B required franking amount for a dividend paid on that day to a shareholder in the company if that and any other on-market purchase by the company had been an off-market purchase.
There arises on the day of an on-market purchase by a company of a share a class C franking debit of the company equal to the amount calculated under subsection (6).
The amount is the amount that would be calculated under subsection 160AQDB(4) or 160AQDB (5) (whichever is applicable) as the class C required franking amount for a dividend paid on that day to a shareholder in the company if that and any other on-market purchase by the company had been an off-market purchase.
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