How will I be informed of the exercise of the Commissioner's discretion?

If the discretion is exercised, you will receive written advice that the amount that would otherwise be treated as a deemed dividend is disregarded, or the company will be given permission to frank the dividend. If the dividend is to be franked, it will be assessable income to the shareholder or associate of the shareholder, with the availability of a franking credit.

    Last modified: 27 Jul 2016QC 19545