INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 7AA - Franking rebates for certain exempt institutions  

SECTION 160ARDAF  

160ARDAF   PRESENT ENTITLEMENT OF EXEMPT INSTITUTION DISREGARDED IN CERTAIN CIRCUMSTANCES  
The present entitlement of an exempt institution to a share of trust income is disregarded for the purposes of Division 6 of Part III if:

(a) the institution claims a refund under Division 67 of the Income Tax Assessment Act 1997 on the basis of a rebate under Division 6, 6A or 7 of this Part in relation to a notional trust amount that related to that share of trust income; and

(b) the institution was not entitled to the rebate because of the operation of section 160ARDAC in relation to a related transaction or arrangement.