INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 2A - Exempting companies and former exempting companies  

SECTION 160AQCNDA   CARRY FORWARD OF EXEMPTING SURPLUS  

160AQCNDA(1)   [Class A exempting surplus]  

If a former exempting company has a class A exempting surplus at the end of a franking year, there arises at the beginning of the next franking year a class A exempting credit of the company equal to that class A exempting surplus.

160AQCNDA(2)   [Class C exempting surplus]  

If a former exempting company has a class C exempting surplus at the end of a franking year, there arises at the beginning of the next franking year a class C exempting credit of the company equal to that class C exempting surplus.