INCOME TAX ASSESSMENT ACT 1997 - SECT 204.1 Objects
INCOME TAX ASSESSMENT ACT 1997 - SECT 204.1
ObjectsThe objects of this Division are to ensure that:
(a) an entity and its * members cannot avoid the effect of the * benchmark rule by exploiting the * benchmark franking percentage of another entity; and
(b) an entity does not stream * franked distributions and * tax - exempt bonus shares; and
(c) an entity does not stream * distributions to members of the
entity who * derive a * greater benefit from franking credits than other
members.