INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 7A - Application of Part in relation to trusts that are treated as companies  

Subdivision B - Modification of rules regarding franking credits and franking debits  

SECTION 160ARDD   RESIDENCE REQUIREMENT FOR CREDIT OR DEBIT TO ARISE  

160ARDD(1)   [Application to corporate trust estates]  

Sections 160APK and 160APW do not apply in relation to a corporate trust estate.

160ARDD(2)   [Current corporate trusts]  

A franking credit or franking debit of a corporate trust estate does not arise in relation to:

(a) the payment of a company tax instalment for a year of income or an initial payment of tax that a company is required to make under section 221AP ;

(b) an assessment or amended assessment of company tax for a year of income; or

(c) a foreign tax credit allowable in respect of tax paid or payable in respect of income derived during a year of income;

unless the corporate trust estate is a current corporate trust in relation to the year of income.