Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 207.80

What this Subdivision is about

This Subdivision creates the appropriate adjustment to cancel the effect of the gross - up and tax offset rules where a franked distribution (or a share of it) is, or would be, exempt income or * non - assessable non - exempt income in the relevant entity's hands (and therefore would not be taxed in any case).

Table of sections

Operative provisions

207 - 85   Applying this Subdivision

207 - 90   Distribution that is made to an entity

207 - 95   Distribution that flows indirectly to an entity


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