INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2 - Franking surplus or deficit  

Subdivision C - General provisions on franking debits  

SECTION 160AQB   PAYMENT OF FRANKED DIVIDENDS  

160AQB(1)   [Class A franking debit arises]  

Where, on a particular day, a company pays a class A franked dividend, there arises on that day a class A franking debit of the company equal to the class A franked amount of the dividend.

160AQB(2)   [Class B franking debit arises]  

If, on a particular day, a company pays a class B franked dividend, there arises on that day a class B franking debit of the company equal to the class B franked amount of the dividend.

160AQB(3)   [Class C franking debit arises]  

If, on a particular day, a company pays a class C franked dividend, there arises on that day a class C franking debit of the company equal to the class C franked amount of the dividend.