Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 214.30

    A * corporate tax entity's franking account balance at a particular time is:

  (a)   if the entity has a * franking surplus or a * franking deficit at that time--the amount of the surplus or deficit; or

  (b)   if the entity does not have a franking surplus or a franking deficit at that time--nil.