Commonwealth Consolidated Acts

NEW BUSINESS TAX SYSTEM (FRANKING DEFICIT TAX) ACT 2002 - SECT 3

    In this Act:

"corporate tax entity" has the same meaning as in the Income Tax Assessment Act 1997 .

"franking account" has the same meaning as in the Income Tax Assessment Act 1997 .

"franking credit" has the same meaning as in the Income Tax Assessment Act 1997 .

"franking deficit" has the same meaning as in the Income Tax Assessment Act 1997 .

"franking deficit tax" means:

  (a)   franking deficit tax payable under section   205 - 45 of the Income Tax Assessment Act 1997 ; and

  (b)   franking deficit tax payable under section   205 - 25 of the Income Tax (Transitional Provisions) Act 1997 .

"franking entity" has the same meaning as in the Income Tax Assessment Act 1997 .

"income year" has the same meaning as in the Income Tax Assessment Tax 1997.