Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 204.35

When does a franking debit arise if the Commissioner makes a determination under paragraph 204 - 30(3)(a)

  (1)   If the Commissioner makes a determination giving rise to a * franking debit in the * franking account of an entity under paragraph   204 - 30(3)(a), the debit arises in the franking account of the entity on the day on which the notice of determination is given to the entity in accordance with section   204 - 50.

  (2)   If the Commissioner makes a determination giving rise to an * exempting debit in the * exempting account of an entity under paragraph   204 - 30(3)(b), the debit arises in the exempting account of the entity on the day on which the notice of determination is given to the entity in accordance with section   204 - 50.



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