INCOME TAX ASSESSMENT ACT 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 976 - Imputation  

SECTION 976-1   976-1   Franked part of a distribution  


The franked part of a *distribution is an amount worked out using the formula:


*Franking credit on the dividend × Applicable gross-up rate

where:

applicable gross-up rate
means the *corporate tax gross-up rate of the entity making the distribution for the income year in which the distribution is made.


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