Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 208.170

Where a determination under paragraph 177EA(5)(b) of the Income Tax Assessment Act 1936 affects part of the distribution

  (1)   Use the following formula to work out:

  (a)   the amount of an * exempting credit arising under item   3 of the table in section   208 - 115 because a * former exempting entity receives a * distribution * franked with an exempting credit; or

  (b)   the amount of a * franking credit arising under item   3 of the table in section   208 - 130 because an * exempting entity receives a distribution franked with an exempting credit;

Start formula *Exempting credit on the *distribution times start fraction Amount of the distribution that is not *exempt income of the recipient over Amount of the distribution end fraction times start fraction Amount of the distribution minus Specified part of the distribution over Amount of the distribution end fraction end formula

  (2)   Use the following formula to work out the amount of a * franking credit arising under item   6 of the table in section   208 - 130 because an * exempting entity receives * a distribution * franked with an exempting credit:

Start formula *Franking credit on the *distribution times start fraction Amount of the distribution that is not *exempt income of the recipient over Amount of the distribution end fraction times start fraction Amount of the distribution minus Specified part of the distribution over Amount of the distribution end fraction end formula


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback