Tax Laws Amendment (2004 Measures No. 1) Act 2004 (95 of 2004)

Schedule 9   Deductions for dividends on-paid to non-resident owners

Income Tax Assessment Act 1936

6   Subsection 46FA(11) (definition of unfranked amount )

Repeal the definition, substitute:

unfranked amount of a dividend (including an unfrankable distribution within the meaning of section 202-45 of the Income Tax Assessment Act 1997) means the amount of the dividend less the franked part.