s 214-120
In forceRecord keeping
Chapter 3Specialist liability rules
Part 3-6The imputation system
Division 214Administering the imputation system
214-120 Record keeping
Section 262A of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if:
(a)
the reference in that section to a person carrying on a business were a reference to a corporate tax entity; and
(b)
the reference in paragraph (2)(a) of that section to the person’s income and expenditure were a reference to:
(i)
the entity’s franking account balance; and
(ii)
the entity’s liability to pay franking tax; and
(c)
paragraph (5)(a) of that section were omitted.
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.