Income Tax Assessment Act 1997
CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-6
-
THE IMPUTATION SYSTEM
Division 207
-
Effect of receiving a franked distribution
Subdivision 207-C
-
Residency requirements for the general rule
SECTION 207-65
Satisfying the residency requirement
207-65(1)
This Subdivision sets out the residency requirements that must be satisfied by an individual or a corporate tax entity that receives a franked distribution, if the franking credit on the distribution is to be included in that entity ' s assessable income, or the entity is to be entitled to a tax offset, under the general rule.
207-65(2)
It does not impose a residency requirement on other entities, because the significance of residency for those entities is dealt with elsewhere in this Act.
207-65(3)
It does not impose a residency requirement where a distribution flows indirectly to an entity. This is also because the significance of residency is dealt with elsewhere, for the most part in Divisions 5 and 6 of Part III of the Income Tax Assessment Act 1936 .
View history note
Hide history noteThis Subdivision sets out the residency requirements that must be satisfied by an individual or a corporate tax entity that receives a franked distribution, if the franking credit on the distribution is to be included in that entity ' s assessable income, or the entity is to be entitled to a tax offset, under the general rule.
207-65(2)
It does not impose a residency requirement on other entities, because the significance of residency for those entities is dealt with elsewhere in this Act.
207-65(3)
It does not impose a residency requirement where a distribution flows indirectly to an entity. This is also because the significance of residency is dealt with elsewhere, for the most part in Divisions 5 and 6 of Part III of the Income Tax Assessment Act 1936 .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.