Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-6
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THE IMPUTATION SYSTEM
The benchmark franking percentage for an entity for a *franking period is the same as the *franking percentage for the first *frankable distribution made by the entity within the period.
Division 203
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Benchmark rule
Operative provisions
SECTION 203-30
203-30
Setting a benchmark franking percentage
The benchmark franking percentage for an entity for a *franking period is the same as the *franking percentage for the first *frankable distribution made by the entity within the period.
Note:
If no frankable distribution is made during the period, there is no benchmark franking percentage for the period.
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