Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if a dividend is taken to be paid under this Division because of a family law obligation.
(2) Subparagraph 202 - 45(g)(i) of the Income Tax Assessment Act 1997 does not make the amount of the dividend unfrankable.
(3) The dividend can be franked in accordance with Part 3 - 6 of the Income Tax Assessment Act 1997 only if:
(a) the dividend is franked at the private company's benchmark franking percentage for the franking period in which the dividend is taken to be paid; or
(b) if the private company does not have a benchmark franking percentage for the period--the dividend is franked at a franking percentage of 100%.
(4) For the purposes of subsection (3), if the recipient of the dividend is not a member of the private company for the purposes of Part 3 - 6 of the Income Tax Assessment Act 1997 , treat that recipient as such a member.