Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 202.55

What is the maximum franking credit for a frankable distribution?

    The maximum franking credit for a distribution is equivalent to the maximum amount of income tax that the entity making the distribution could have paid, at the entity's corporate tax rate for imputation purposes for the income year in which the distribution is made, on the profits underlying the distribution.


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