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

Part 13   DEFERRAL OF INITIAL PAYMENTS OF COMPANY TAX FOR 1993-94

Division 3   Deferred initial payments of tax for 1993-94 to be offset by prior payments of franking deficit tax

174   No refunds of amounts of franking deficit tax overpaid because of the FDT reduction provision

Despite section 160ARR of the Assessment Act, paragraph 172(1)(b) of the Assessment Act does not apply to, and a company is not otherwise entitled to a refund in respect of, an overpayment of franking deficit tax that arises out of the operation of the FDT reduction provision.