INCOME TAX ASSESSMENT ACT 1997 - SECT 203.5 Benchmark rule
INCOME TAX ASSESSMENT ACT 1997 - SECT 203.5
Benchmark rule(1) A corporate tax entity must frank all frankable distributions made within a particular period at a franking percentage set as the benchmark for that period. This is the benchmark rule.
(2) The benchmark rule does not apply to some corporate tax
entities. Those entities are identified in section 203 - 20.