INCOME TAX ASSESSMENT ACT 1997 - SECT 207.119 Entity not treated as exempt institution eligible for refund in certain circumstances
INCOME TAX ASSESSMENT ACT 1997 - SECT 207.119
Entity not treated as exempt institution eligible for refund in certain circumstancesFor the purposes of this Act:
(a) an entity must not be treated as an * exempt institution that is eligible for a refund in relation to a * franked distribution if section 207 - 120, 207 - 122 or 207 - 124 applies to the entity in relation to the distribution; and
(b) a beneficiary of a trust must not be treated as an exempt
institution that is eligible for a refund in relation to a
franked distribution made in an income year if section 207 - 126
applies to the beneficiary in relation to that income year.