Commonwealth Consolidated Acts Commonwealth Consolidated ActsThis Subdivision:
• creates an exempting account for each former exempting entity; and
• identifies when exempting credits and debits arise in those accounts and the amount of those credits and debits; and
• identifies when there is an exempting surplus or deficit in the account; and
• identifies when franking credits and debits arise in the franking account of an entity because it is an exempting entity, or former exempting entity.
Table of sections
Operative provisions
208 - 110 Exempting account
208 - 115 Exempting credits
208 - 120 Exempting debits
208 - 125 Exempting surplus and deficit
208 - 130 Franking credits arising because of status as exempting entity or former exempting entity
208 - 135 Relationships that will give rise to a franking credit under item 5 of the table in section 208 - 130
208 - 140 Membership of the same effectively wholly - owned group
208 - 145 Franking debits arising because of status as exempting entity or former exempting entity
208 - 150 Residency requirement
208 - 155 Eligible continuing substantial member
208 - 160 Distributions that are affected by a manipulation of the imputation system
208 - 165 Amount of the exempting credit or franking credit arising because of a distribution franked with an exempting credit
208 - 170 Where a determination under paragraph 177EA(5)(b) of the Income Tax Assessment Act 1936 affects part of the distribution
208 - 175 When does a distribution franked with an exempting credit flow indirectly to an entity?
208 - 180 What is an entity's share of the exempting credit on a distribution?
208 - 185 Minister may convert exempting surplus to franking credit of former exempting entity previously owned by the Commonwealth