Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 208.230

    Division   207 applies to a * distribution * franked with an exempting credit by a * former exempting entity as if it were a * franked distribution if:

  (a)   the recipient of the distribution is a former exempting entity and the distribution gives rise to an * exempting credit for the recipient; or

  (b)   the recipient of the distribution is an * exempting entity and the distribution gives rise to a * franking credit for the recipient; or

  (c)   the distribution * flows indirectly to a former exempting entity and gives rise to an exempting credit for that entity; or

  (d)   the distribution flows indirectly to an exempting entity and gives rise to a franking credit for that entity.