Commonwealth Consolidated Acts

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NEW BUSINESS TAX SYSTEM (CONSOLIDATION) ACT (NO. 1) 2002 - SECT 709.65

Subsidiary member’s franking account does not operate

                   The * franking account of an entity that is a * subsidiary member of a * consolidated group does not operate during the period:

                     (a)  beginning just after the entity becomes a subsidiary member of the group; and

                     (b)  ending when the entity ceases to be a subsidiary member of the group.

Treatment of head company’s franking account


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