Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)
Schedule 3 Demutualisation of friendly society health or life insurers
Part 2 Related amendments
Income Tax Assessment Act 1997
21 Subsection 205-30(1) (at the end of the table)
Add:
|
10 |
a*franking debit arises under section 316-260 for the*friendly society or one of its*wholly-owned subsidiaries because the*franking account of the society or subsidiary is in*surplus |
the amount of the debit specified in subsection 316-260(2) |
at the time provided by subsection 316-260(3) |
|
11 |
a*franking debit arises under section 316-265 for the*friendly society or one of its*wholly-owned subsidiaries because a*franking credit arises for the society or subsidiary |
the amount of the debit specified in subsection 316-265(3) |
at the time provided by subsection 316-265(4) |
|
12 |
a*franking debit arises under section 316-270 for the*friendly society or one of its*wholly-owned subsidiaries because a*franking credit arises for the society or subsidiary |
the amount of the debit specified in subsection 316-270(3) |
at the time provided by subsection 316-270(4) |