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

175   Reduction of liability for franking deficit tax does not give rise to a franking credit under section 160APQA of the Assessment Act

Despite section 160APQA of the Assessment Act, a franking credit does not arise under that section to the extent to which it is attributable to the operation of the FDT reduction provision.