Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 207 - Effect of receiving a franked distribution  

Subdivision 207-B - Franked distribution received through certain partnerships and trustees  

Key concepts

SECTION 207-57   Share of the franking credit on a franked distribution  

207-57(1)  
An entity's share of a *franking credit on a *franked distribution is an amount notionally allocated to the entity as its share of that credit, whether or not the entity actually receives any of that credit or distribution.

207-57(2)  
Work out that amount as follows:


Amount of the
*franking credit
on the
*franked distribution
× Entity's *share of the
  *franked distribution  
Amount of the
*franked distribution


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