Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 203.40

Franking periods--where the entity is not a private company

             (1)  Use this section to work out the franking periods for an entity in an income year where the entity is not a * private company for the income year.

             (2)  If the entity's income year is a period of 12 months, each of the following is a franking period for the entity in that year:

                     (a)  the period of 6 months beginning at the start of the entity's income year;

                     (b)  the remainder of the income year.

             (3)  If the entity's income year is a period of 6 months or less, the franking period for the entity in that year is the same as the income year.

             (4)  If the entity's income year is a period of more than 6 months and less than 12 months, each of the following is a franking period for the entity in that year:

                     (a)  the period of 6 months beginning at the start of the entity's income year;

                     (b)  the remainder of the income year.

             (5)  If the entity's income year is a period of more than 12 months, each of the following is a franking period for the entity in that year:

                     (a)  the period of 6 months beginning at the start of the entity's income year (the first franking period );

                     (b)  the period of 6 months beginning immediately after the end of the first franking period;

                     (c)  the remainder of the income year.



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