Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 230.480

Treatment of gains in form of franked distribution etc.

  (1)   This section applies if a gain you make from a * financial arrangement is in the form of:

  (a)   a * franked distribution (including a franked distribution that * flows indirectly to you); or

  (b)   a right to receive a franked distribution (including a franked distribution that will flow indirectly to you).

  (2)   This Division does not apply to the gain to the extent that the * franked distribution has a * franked part.

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