Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The * imputation system applies to a * co - operative company in the same way as it applies to any other company but with the modifications set out in this section.
(2) Each reference to a * distribution is taken to include a reference to an amount distributed as mentioned in paragraph 120(1)(a) or (b) of the Income Tax Assessment Act 1936 .
(3) Despite subsection 202 - 75(1) (about giving distribution statements), a * co - operative company does not have to give the recipient of a * frankable distribution a * distribution statement unless the * franking percentage for the distribution is greater than zero.
Guide to Division 219
219 - A Application of imputation rules to life insurance companies
219 - B Franking accounts of life insurance companies