Commonwealth Consolidated Acts

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

INCOME TAX ASSESSMENT ACT 1997 - SECT 220.505

Post - choice NZ franking company is not automatically prescribed person

  (1)   A * post - choice NZ franking company is not a prescribed person under section   208 - 40 for the purposes of working out whether another * corporate tax entity is an * exempting entity at a particular time because it is effectively owned by prescribed persons within the meaning of section   208 - 25.

  (2)   However, this section does not prevent the company from being taken under section   208 - 45 to be a prescribed person for those purposes.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback