Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 203.40

  (1)   Use this section to work out the franking periods for an entity in an income year where the entity is not a * private company for the income year.

  (2)   If the entity's income year is a period of 12 months, each of the following is a franking period for the entity in that year:

  (a)   the period of 6 months beginning at the start of the entity's income year;

  (b)   the remainder of the income year.

  (3)   If the entity's income year is a period of 6 months or less, the franking period for the entity in that year is the same as the income year.

  (4)   If the entity's income year is a period of more than 6 months and less than 12 months, each of the following is a franking period for the entity in that year:

  (a)   the period of 6 months beginning at the start of the entity's income year;

  (b)   the remainder of the income year.

  (5)   If the entity's income year is a period of more than 12 months, each of the following is a franking period for the entity in that year:

  (a)   the period of 6 months beginning at the start of the entity's income year (the first franking period );

  (b)   the period of 6 months beginning immediately after the end of the first franking period;

  (c)   the remainder of the income year.