Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)

Schedule 3   Simplified Imputation System

Part 2   Miscellaneous consequential and technical amendments

Income Tax Assessment Act 1936

38   Subsection 109ZC(2)

Omit "that has not been franked under section 160AQF or 160AQFA", substitute "that is not either the franked part of that dividend, or the part of that dividend that has been franked with an exempting credit".