INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf a company has a class C franking surplus at the start of 1 July 2000:
(a) a class C franking debit of the company arises equal to that surplus; and
(b) a class C franking credit of the company arises equal to the amount of that debit multiplied by the conversion factor in subsection (5). 160ATB(2) [PDFs - venture capital surplus]
If a PDF has a venture capital sub-account surplus at the start of 1 July 2000:
(a) a venture capital debit of the PDF arises equal to that surplus; and
(b) a venture capital credit of the PDF arises equal to the amount of that debit multiplied by the conversion factor in subsection (5). 160ATB(3) [Company with class C deficit]
If a company has a class C franking deficit at the start of 1 July 2000:
(a) a class C franking credit of the company arises equal to that deficit; and
(b) a class C franking debit of the company arises equal to the amount of that credit multiplied by the conversion factor in subsection (5). 160ATB(4) [PSF with venture capital deficit]
If a PDF has a venture capital sub-account deficit at the start of 1 July 2000:
(a) a venture capital credit of the PDF arises equal to that deficit; and
(b) a venture capital debit of the PDF arises equal to the amount of that credit multiplied by the conversion factor in subsection (5). 160ATB(5) [Conversion factor]
The conversion factor is:
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36
64 |
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66
34 |
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