Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

Operative provisions  

SECTION 203-40   Franking periods - where the entity is not a private company  

203-40(1)    
Use this section to work out the franking periods for an entity in an income year where the entity is not a * private company for the income year.

203-40(2)    
If the entity ' s income year is a period of 12 months, each of the following is a franking period for the entity in that year:

(a) the period of 6 months beginning at the start of the entity ' s income year;

(b) the remainder of the income year.

203-40(3)    
If the entity ' s income year is a period of 6 months or less, the franking period for the entity in that year is the same as the income year.

203-40(4)    
If the entity ' s income year is a period of more than 6 months and less than 12 months, each of the following is a franking period for the entity in that year:

(a) the period of 6 months beginning at the start of the entity ' s income year;

(b) the remainder of the income year.

203-40(5)    
If the entity ' s income year is a period of more than 12 months, each of the following is a franking period for the entity in that year:

(a) the period of 6 months beginning at the start of the entity ' s income year (the first franking period );

(b) the period of 6 months beginning immediately after the end of the first franking period;

(c) the remainder of the income year.