INCOME TAX ASSESSMENT ACT 1997 - SECT 203.25 Benchmark rule

INCOME TAX ASSESSMENT ACT 1997 - SECT 203.25

    An entity must not make a * frankable distribution whose * franking percentage differs from the entity's * benchmark franking percentage for the * franking period in which the distribution is made. This is the benchmark rule .

Note:   If a corporate tax entity franks a distribution in breach of this rule, the distribution will still be a franked distribution, although consequences will flow under section   203 - 50.