INCOME TAX ASSESSMENT ACT 1997 - SECT 205.25 Residency requirement for an event giving rise to a franking credit or franking debit

INCOME TAX ASSESSMENT ACT 1997 - SECT 205.25

  (1)   An entity satisfies the residency requirement for an income year in which, or in relation to which, an event specified in a relevant table occurs if:

  (a)   the entity is a company, or a * corporate limited partnership, to which at least one of the following subparagraphs applies:

  (i)   the entity is an Australian resident for more than one half of the 12 months immediately preceding the event if the event occurs before the end of the income year;

  (ii)   the entity is an Australian resident at all times during the income year when the entity exists if the event occurs at or after the end of the income year;

  (iii)   the entity is an Australian resident for more than one half of the income year (whether or not the event occurs before the end of the income year); or

  (c)   the entity is a * public trading trust for the income year.

  (2)   The tables in sections   205 - 15 and 205 - 30 are relevant for the purposes of subsection   (1).