Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

2A

the entity *receives a *tax offset refund; and

the entity does not satisfy the *residency requirement for the income year to which the refund relates; and

the entity was a *franking entity during the whole or part of the income year to which the refund relates; and

the entity's *franking account is in *surplus on the day on which the refund is received

the lesser of:

(a) that part of the refund that is attributable to the period during which the entity was a franking entity; and

(b) the amount of the *franking surplus

on the day on which the refund is received