INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2 - Franking surplus or deficit  

Subdivision A - Ascertainment of surplus or deficit  

SECTION 160APJ   ASCERTAINMENT OF SURPLUS OR DEFICIT  

160APJ(1)   [Class A franking surplus]  

The class A franking surplus of a company at a particular time in a franking year is the amount by which the total of the class A franking credits of the company arising in the franking year and before that time exceeds the total of the class A franking debits of the company arising in the franking year and before that time.

160APJ(1A)   [Class B franking surplus]  

The class B franking surplus of a company at a particular time in a franking year is the amount by which the total of the class B franking credits of the company arising in the franking year and before that time exceeds the total of the class B franking debits of the company arising in the franking year and before that time.

160APJ(1B)   [Class C franking surplus]  

The class C franking surplus of a company at a particular time in a franking year is the amount by which the total of the class C franking credits of the company arising in the franking year and before that time exceeds the total of the class C franking debits of the company arising in the franking year and before that time.

160APJ(2)   [Class A franking deficit]  

The class A franking deficit of a company at a particular time in a franking year is the amount by which the total of the class A franking debits of the company arising in the franking year and before that time exceeds the total of the class A franking credits of the company arising in the franking year and before that time.

160APJ(3)   [Class B franking deficit]  

The class B franking deficit of a company at a particular time in a franking year is the amount by which the total of the class B franking debits of the company arising in the franking year and before that time exceeds the total of the class B franking credits of the company arising in the franking year and before that time.

160APJ(4)   [Class C franking deficit]  

The class C franking deficit of a company at a particular time in a franking year is the amount by which the total of the class C franking debits of the company arising in the franking year and before that time exceeds the total of the class C franking credits of the company arising in the franking year and before that time.