INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1 - Interpretation  

SECTION 160APBC   160APBC   APPLICATION OF PAYG INSTALMENT VARIATION CREDIT  
If a company:


(a) is liable to pay a PAYG instalment; and


(b) has a PAYG instalment variation credit;

the PAYG instalment variation credit must be fully applied to reduce the liability for the PAYG instalment before any other credit or payment can be applied to reduce that liability.


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