Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 208.90

All frankable distributions made within a franking period must be franked to the same extent with an exempting credit

                 (1)    If an entity * franks a * distribution with an exempting credit, it must frank each other * frankable distribution made within the same * franking period with an exempting credit worked out at the same * exempting percentage.

                 (2)    If an entity is not a * former exempting entity for the whole of a * franking period (the longer period ), then, for the purposes of subsection (1), each period within that longer period during which the entity is a former exempting entity is taken to be a franking period .



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