Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 802 - Foreign residents ' income with an underlying foreign source  

Subdivision 802-A - Conduit foreign income  

Operative provisions

SECTION 802-45   802-45   Previous declarations of conduit foreign income  


The entity ' s conduit foreign income is reduced if:


(a) the entity makes a *frankable distribution that has an *unfranked part; and


(b) the entity declares an amount of the unfranked part to be conduit foreign income.

The amount of the reduction is the amount so declared.

Note:

If the amount declared is less than the amount available for declaration, the difference is available for a later declaration.


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