Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 709.85

  (1)   This section operates if:

  (a)   an entity holds a * non - share equity interest in a * subsidiary member of a * consolidated group; and

  (b)   the subsidiary member makes a * non - share distribution to the entity as holder of the interest; and

  (c)   the distribution is a * frankable distribution; and

  (d)   the entity to which the distribution is made is not a * member of the group.

  (2)   Part   3 - 6 operates as if the * distribution were a * frankable distribution made by the * head company of the group to a * member of the head company.

Note:   Part   3 - 6 deals with imputation.