Taxation Laws Amendment Act (No. 3) 1993 (118 of 1993)

Part 4   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 9   Amendments relating to dividend imputation

Subdivision C   Application and transitional provisions

109   Application of amendments

 

(1) The amendments made by paragraphs 40(c), (d) and (f), and the amendments of Division 2 of Part IIIAA of the Principal Act made by this Division, apply in relation to franking credits and franking debits of a company arising in the company's 1994-95 franking year and each later franking year.
            

      

(2) The amendments of Division 3 of Part IIIAA of the Principal Act made by this Division apply in relation to an application for the determination of an estimated debit, if the application is made after the beginning of the applicant's 1994-95 franking year.
            

      

(3) The amendments made by paragraph 40(a), and the amendments of Subdivisions B and C of Division 5, Division 8 and Division 11 of Part IIIAA of the Principal Act made by this Division, apply in relation to a company's 1994-95 franking year and each later franking year.
            

      

(4) The amendments made by paragraph 40(b), and the amendments of Division 4, Subdivision A of Division 5 and Divisions 6 and 7 of Part IIIAA and section 221YHZC of the Principal Act made by this Division, apply in relation to dividends paid to a shareholder in a company during the company's 1994-95 franking year and each later franking year.
            

      

(5) The amendments of Division 12 of Part IIIAA of the Principal Act made by this Division apply in relation to a company's franking account balance for the company's 1994-95 franking year and each later franking year.