INCOME TAX ASSESSMENT ACT 1997 - SECT 204.1 Objects

INCOME TAX ASSESSMENT ACT 1997 - SECT 204.1

    The 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.