Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 200.20

  (1)   A corporate tax entity franks a distribution by allocating a franking credit to it.

  (2)   The amount of the franking credit on the distribution is the amount specified in a statement that accompanies the distribution.

  (3)   Only some kinds of distribution can be franked. These are called frankable distributions.