Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 208 - Exempting entities and former exempting entities  

Subdivision 208-H - Tax effect of a distribution franked with an exempting credit  

Operative provisions

SECTION 208-230  

208-230   Distributions to exempting entities and former exempting entities  

Division 207 applies to a * distribution * franked with an exempting credit by a * former exempting entity as if it were a * franked distribution if:

(a) the recipient of the distribution is a former exempting entity and the distribution gives rise to an * exempting credit for the recipient; or

(b) the recipient of the distribution is an * exempting entity and the distribution gives rise to a * franking credit for the recipient; or

(c) the distribution * flows indirectly to a former exempting entity and gives rise to an exempting credit for that entity; or

(d) the distribution flows indirectly to an exempting entity and gives rise to a franking credit for that entity.