Commissioner may make a franking assessment
214-25 Commissioner may make a franking assessment
The Commissioner may make an assessment of:
if the entity is a franking entity at the end of the balancing period—its franking account balance at the end of the period; and
if the entity ceases to be a franking entity during the balancing period—its franking account balance immediately before it ceased to be a franking entity; and
the amount (if any) of franking deficit tax that the entity is liable to pay under section 205‑25 of this Act because of events that have occurred, or are taken to have occurred, during the balancing period.
This is a franking assessment for the entity for the balancing period.
The Commissioner must give the entity notice of the assessment as soon as practicable after making the assessment.
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