Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 203.35

Franking percentage

  (1)   Subject to subsection   (2), the franking percentage for a * frankable distribution is worked out using the formula:

Start formula start fraction *Franking credit allocated to the *frankable distribution over *Maximum franking credit for the distribution end fraction times 100 end formula

  (2)   If the * franking percentage for a * frankable distribution would exceed 100% if it were worked out under subsection   (1), it is taken to be 100%.


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