INCOME TAX ASSESSMENT ACT 1997 - SECT 214.30 Franking account balance
INCOME TAX ASSESSMENT ACT 1997 - SECT 214.30
Franking account balanceA * corporate tax entity's franking account balance at a particular time is:
(a) if the entity has a * franking surplus or a * franking deficit at that time--the amount of the surplus or deficit; or
(b) if the entity does not have a franking surplus or a
franking deficit at that time--nil.