INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThis section applies in relation to a dividend paid by a company to a shareholder if:
(a) the beginning of the reckoning day for the dividend is after the company's class C conversion time; and
(b) the dividend is the current dividend under subsection 160AQE(2) ; and
(c) the beginning of the reckoning day for the earlier dividend mentioned in that subsection is before the company's class C conversion time. 160ASL(2) Effect on required franking amount - companies other than life assurance companies.
If the company is not a life assurance company at the beginning of the reckoning day for the current dividend then, for the purposes of the definition of RFS in subsection 160AQE(2) :
(a) the amount that will be the franked amount in relation to the earlier dividend is taken to be the amount worked out using the formula:
(b) the required franking amount in relation to the earlier dividend is taken to be the amount worked out using the formula:
If the company is a life assurance company at the beginning of the reckoning day for the current dividend then, for the purposes of the definition of RFS in subsection 160AQE(2) :
(a) the amount that will be the franked amount in relation to the earlier dividend is taken to be the amount worked out using the formula:
(b) the required franking amount in relation to the earlier dividend is taken to be the amount worked out using the formula:
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