Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 203.25

Benchmark rule

                   An entity must not make a * frankable distribution whose * franking percentage differs from the entity's * benchmark franking percentage for the * franking period in which the distribution is made. This is the benchmark rule .

Note:          If a corporate tax entity franks a distribution in breach of this rule, the distribution will still be a franked distribution, although consequences will flow under section 203-50.



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