SPECIALIST LIABILITY RULES
THE IMPUTATION SYSTEM
Exempting entities and former exempting entities
Exempting accounts and franking accounts of exempting entities and former exempting entities
When does a distribution franked with an exempting credit flow indirectly to an entity?
A *distribution *franked with an exempting credit is taken to
to an entity if, had it been a *franked distribution, it would have been taken to have flowed indirectly to the entity under section