INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteWhere a company has not furnished a return in respect of a franking year, the Commissioner may make an assessment of:
(a) the class A franking account balance of the company at the end of the franking year; and
(b) any class A franking deficit tax payable by the company for the franking year.
If a company has not lodged a return in respect of a franking year, the Commissioner may make an assessment of:
(a) the class B franking account balance of the company at the end of the franking year; and
(b) any class B franking deficit tax payable by the company for the franking year.
If a company has not lodged a return in respect of a franking year, the Commissioner may make an assessment of:
(a) the class C franking account balance of the company at the end of the franking year; and
(b) any class C franking deficit tax payable by the company for the franking year.
If a company has not lodged a return in relation to a deficit deferral amount within the time specified in section 160AREA , the Commissioner may make an assessment of deficit deferral tax payable by the company in relation to the deficit deferral amount.
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