INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteFor the purposes of this Part, the class A required franking amount for a dividend paid to a shareholder in a company is the amount that would be the required franking amount for the dividend if:
(a) the reference in section 160AQE to the franking surplus of the company at the beginning of the reckoning day for the dividend were, by express provision, confined to the class A franking surplus of the company at the beginning of that day; and
(b) each reference in section 160AQE to a franked amount were, by express provision, confined to a class A franked amount; and
(c) each reference in section 160AQE to a required franking amount were, by express provision, confined to a class A required franking amount; and
(d) each reference in section 160AQE to a franking debit were, by express provision, confined to a class A franking debit. 160AQDB(2) [Class B required franking amount]
For the purposes of this Part, if the beginning of the reckoning day is before the company's class C conversion time, the class B required franking amount for a dividend paid to a shareholder in the company is worked out using the formula:
|
Gross required
franking amount |
− |
Class A required franking
amount |
where:
`` Gross required franking amount '' means the required franking amount for the dividend;
`` Class A required franking amount '' means the class A required franking amount for the dividend.
For the purposes of this Part, if the beginning of the reckoning day is after the company's class C conversion time, the class B required franking amount for a dividend paid to a shareholder in the company is nil.
For the purposes of this Part, if the beginning of the reckoning day is after the company's class C conversion time, the class C required franking amount for a dividend paid to a shareholder in the company is worked out using the formula:
|
Gross required
franking amount |
− |
Class A required franking
amount |
where:
Gross required franking amount means the required franking amount for the dividend.
Class A required franking amount means the class A required franking amount for the dividend.
For the purposes of this Part, if the beginning of the reckoning day is before the company's class C conversion time, the class C required franking amount for a dividend paid to a shareholder in the company is nil.
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