INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2 - Franking surplus or deficit  

Subdivision B - General provisions on franking credits  

SECTION 160APMAA  

160APMAA   PAYMENT OF ADDITIONAL AMOUNT ON UPWARDS ESTIMATE  
If, on a particular day, an amount payable under subsection 221AZR(1) is paid in respect of a year of income, there arises on that day whichever of the following is applicable:

(a) if the year of income is the 1994-95 year of income - a class B franking credit of the company equal to the adjusted amount in relation to the amount paid;

(b) if the year of income is the 1995-96 year of income or a later year of income - a class C franking credit of the company equal to the adjusted amount in relation to the amount paid.