1

the entity * pays a PAYG instalment; and

the entity satisfies the * residency requirement for the income year in relation to which the PAYG instalment is paid; and

the entity is a * franking entity for the whole or part of the relevant * PAYG instalment period

that part of the payment that is attributable to the period during which the entity was a franking entity, less any reduction under subsection   (4)

on the day on which the payment is made

2

the entity * pays income tax; and

the entity satisfies the * residency requirement for the income year for which the tax is paid; and

the entity is a * franking entity for the whole or part of that income year

that part of the payment that is attributable to the period during which the entity was a franking entity, less any reduction under subsection   (4)

on the day on which the payment is made

3

a * franked distribution is made to the entity; and

the entity satisfies the * residency requirement for the income year in which the distribution is made; and

the entity is a * franking entity when it receives the distribution; and

the entity is entitled to a * tax offset because of the distribution under Division   207

the * franking credit on the distribution

on the day on which the distribution is made

4

a * franked distribution * flows indirectly to the entity through a partnership or the trustee of a trust; and

the entity is a * franking entity when the franked distribution is made; and

the entity is entitled to a * tax offset because of the distribution under Division   207

the entity's share of the * franking credit on the distribution

at the time specified in subsection   (2)

4A

a * franking debit arises under item   2 or 2A of the table in subsection   205 - 30(1) because the entity receives a * tax offset refund; and

the entity's tax offset refund is subsequently reduced and the entity is liable to pay to the Commonwealth the amount of the excess mentioned in subsection   172A(2) of the Income Tax Assessment Act 1936 ; and

the entity pays the amount of the excess

the difference (if any) between:

(a) the amount of the franking debit; and

(b) the amount the franking debit would have been if the tax offset refund were reduced by the amount of the excess

on the day on which the amount of the excess is paid

5

the entity incurs a liability to pay * franking deficit tax under section   205 - 45 or 205 - 50

the amount of the liability

immediately after the liability is incurred

6

a * franking credit arises under section   316 - 275 for the * friendly society or one of its * wholly - owned subsidiaries because the society or subsidiary * receives a refund of income tax

the amount of the debit specified in subsection   316 - 275(3)

at the time provided by subsection   316 - 275(4)

6A

a * franking credit arises under paragraph   417 - 50(5)(b) in relation to a deduction transferred to a * corporate tax entity

the amount of the * franking credit specified in subsection   417 - 50(6)

at the time provided by paragraph   417 - 50(5)(b)

6B

a * franking credit arises under paragraph   417 - 100(1)(c) in relation to * tax loss transferred to a * corporate tax entity

the amount of the * franking credit specified in subsection   417 - 100(3)

at the time provided by paragraph   417 - 100(1)(c)

7

a * franking credit arises under subsection   418 - 50(1) in relation to an * exploration credit

the amount of the * franking credit specified in subsection   418 - 50(2)

at the time provided by subsection   418 - 50(3)

8

the entity * pays diverted profits tax; and

the entity satisfies the * residency requirement for the income year for which the tax is paid; and

the entity is a * franking entity for the whole or part of that income year

that part of the payment that is attributable to the period during which the entity was a franking entity, multiplied by the proportion worked out under subsection   (5)

on the day on which the payment is made