Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 203.1

    Where, but for this section, 1   July 2002 would fall within a franking period for a corporate tax entity, but would not be the first day of the franking period, the franking period:

  (a)   is taken to begin at the start of 1   July 2002; and

  (b)   is taken to end when it would otherwise have ended.

Table of sections

205 - 1   Order of events provision

205 - 5   Washing estimated debits out of the franking account before conversion

205 - 10   Converting the franking account balance to a tax paid basis--companies whose 2001 - 02 franking year ends on 30   June 2002

205 - 15   Converting the franking account balance to a tax paid basis--companies whose 2001 - 02 franking year ends before 30   June 2002

205 - 20   A late balancing company may elect to have its FDT liability determined on 30   June

205 - 25   Franking deficit tax

205 - 30   Deferring franking deficit

205 - 35   No franking deficit tax if franking account in deficit at the close of the 2001 - 02 income year of a late balancing entity

205 - 70   Tax offset arising from franking deficit tax liabilities

205 - 71   Modification of franking deficit tax offset rules

205 - 75   Working out the tax offset for the first income year

205 - 80   Application of Subdivision C of Division   5 of former Part   IIIAA of the Income Tax Assessment Act 1936