INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history note[ CCH Note: Note that there is a second Subdiv CA, comprising s 160AQCNCA to 160AQCNCE, that appears later in this Division.]
(a) on a particular day, a class A franking credit of a life assurance company arises under subsection 160APVC(1) in relation to an amount received as a refund in relation to a year of income; and
(b) on or after that day, a notice of an original company tax assessment for the year of income is served, or deemed to be served, on the company;
there arises, on the day on which the notice is served or deemed to be served, a class A franking debit of the company equal to the amount of the class A franking credit.
(a) on a particular day, a class B franking credit of a life assurance company arises under subsection 160APVC(1) in relation to an amount received as a refund in relation to a year of income; and
(b) on or after that day, a notice of an original company tax assessment for the year of income is served, or deemed to be served, on the company;
there arises, on the day on which the notice is served or deemed to be served, a class B franking debit of the company equal to the amount of the class B franking credit.
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.
