Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-6
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THE IMPUTATION SYSTEM
Division 203
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Benchmark rule
SECTION 203-5
Benchmark rule
203-5(1)
A corporate tax entity must frank all frankable distributions made within a particular period at a franking percentage set as the benchmark for that period. This is the benchmark rule.
203-5(2)
The benchmark rule does not apply to some corporate tax entities. Those entities are identified in section 203-20 .
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Hide history noteA corporate tax entity must frank all frankable distributions made within a particular period at a franking percentage set as the benchmark for that period. This is the benchmark rule.
203-5(2)
The benchmark rule does not apply to some corporate tax entities. Those entities are identified in section 203-20 .
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