INCOME TAX ASSESSMENT ACT 1997 - SECT 208.60 Franking with an exempting credit

INCOME TAX ASSESSMENT ACT 1997 - SECT 208.60

    An entity franks a * distribution with an exempting credit if:

  (a)   the entity is a * former exempting entity when the distribution is made; and

  (b)   the entity is a * franking entity that satisfies the * residency requirement when the distribution is made; and

  (c)   the distribution is a * frankable distribution; and

  (d)   the entity allocates an * exempting credit to the distribution.

Note:   The residency requirement for an entity making a distribution is set out in section   202 - 20.