s 205-5
In forceWashing estimated debits out of the franking account before conversion
Chapter 3Specialist liability rules
Part 3-6The imputation system
Division 205Franking accounts
205-5 Washing estimated debits out of the franking account before conversion
If, under former Part IIIAA of the Income Tax Assessment Act 1936, the termination time in relation to an estimated debit of a company would, but for this section, occur after the end of 30 June 2002, it is taken to have occurred at the end of 30 June 2002.
Note:
A franking credit of the appropriate class equal to the debit will arise under former section 160APU of that Act at the beginning of 30 June 2002.
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.