Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 89

89. Section 160AQY of the Principal Act is amended:

   (a)  by omitting paragraph (b) and substituting the following paragraph:

"(b) there is either or both of the following:

        (i)    a class A flow-on franking amount in relation to the trust
               amount;

        (ii)   a class B flow-on franking amount in relation to the trust
               amount;";

   (b)  by omitting all the words after "equal to" and substituting the
        following words and paragraphs:

"whichever of the following is applicable:

   (c)  if only subparagraph (b)(i) applies-the class A potential rebate
        amount in relation to the trust amount;

   (d)  if only subparagraph (b)(ii) applies-the class B potential rebate
        amount in relation to the trust amount;

   (e)  if both subparagraphs (b)(i) and (ii) apply-the sum of:

        (i)    the class A potential rebate amount in relation to the trust
               amount; and

        (ii)   the class B potential rebate amount in relation to the trust
               amount.".