INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 5 - Franking of dividends  

Subdivision C - Franking deficit tax and deficit deferral tax to offset company tax  

SECTION 160AQKB   RELIANCE BY COMMISSIONER ON CLAIM FOR OFFSET  

160AQKB(1)   [Commissioner's determination]  

Where a company makes a claim for an offset (whether in a return of income of a year of income or otherwise), the Commissioner may, for the purpose of determining whether an offset is allowable to the company and, if the Commissioner determines that an offset is allowable, for the purpose of determining the amount of the offset, accept, in whole or in part, any statement in the claim that is relevant to the determination.

160AQKB(2)   [Question relevant to determination]  

Despite subsection (1), where, in a document furnished with a claim for an offset, a question is raised that is relevant to the determination of the claim, the Commissioner must give attention to that question.

160AQKB(3)   [Determination of objection]  

In deciding whether a determination of a claim for an offset is correct, any determination, opinion or judgment of the Commissioner made, held or formed in connection with the consideration of an objection against the determination of the claim is deemed to have been made, held or formed when the determination of the offset was made.