Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 207.70

    If an entity makes a * franked distribution to an individual or a * corporate tax entity:

  (a)   no amount is included in the receiving entity's assessable income under subsection   207 - 20(1); and

  (b)   the receiving entity is not entitled to a * tax offset under subsection   207 - 20(2);

unless the receiving entity satisfies the * residency requirement at the time the distribution is made.