Commonwealth Consolidated Acts

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

INCOME TAX ASSESSMENT ACT 1997 - SECT 204.80

Commissioner may require information where the Commissioner suspects streaming

  (1)   The Commissioner may request the entity to give the Commissioner the following information:

  (a)   the entity's reasons for setting a benchmark franking percentage for the current franking period that differs significantly from the benchmark franking percentage for the last relevant franking period; and

  (b)   the * franking percentages for all * frankable distributions made in the current franking period and the last relevant franking period; and

  (c)   details of any other benefits given to the entity's * members, either by the entity or an * associate of the entity, during the period beginning at the beginning of the last relevant franking period and ending at the end of the current franking period; and

  (d)   whether any member of the entity has * derived, or will derive, a * greater benefit from franking credits than another member of the entity as a result of the variation in the benchmark franking percentage between the current franking period and the last relevant franking period; and

  (e)   any other information required by the * approved form that is relevant in determining whether the entity is streaming * distributions.

  (2)   The entity must comply with the Commissioner's request.

 


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback