Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 208.165

Amount of the exempting credit or franking credit arising because of a distribution franked with an exempting credit

  (1)   Use the following formula to work out:

  (a)   the amount of an * exempting credit arising under item   2 of the table in section   208 - 115 because a * former exempting entity receives a * distribution * franked with an exempting credit; or

  (b)   the amount of a * franking credit arising under item   2 of the table in section   208 - 130 because an * exempting entity receives a distribution franked with an exempting credit;

Start formula *Exempting credit on the *distribution times start fraction Amount of the distribution that is not *exempt income of the recipient over Amount of the distribution end fraction end formula

  (2)   Use the following formula to work out the amount of a * franking credit arising under item   5 of the table in section   208 - 130 because an * exempting entity receives a * distribution * franked with an exempting credit:

Start formula *Franking credit on the *distribution times start fraction Amount of the distribution that is not *exempt income of the recipient over Amount of the distribution end fraction end formula


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