To whom does the imputation system apply?

The rules on franking a distribution, franking accounts and the anti-streaming rules apply to corporate tax entities. Corporate tax entities are companies, corporate limited partnerships, corporate unit trusts and public trading trusts. These entities are taxed separately from their members and are taxed at the company tax rate.

The rules on the tax effects of receiving a franked distribution apply to all entities, including individuals, corporate tax entities and superannuation entities.

    Last modified: 28 Jul 2016QC 16618