New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 5   Consolidation: imputation rules

Income Tax Assessment Act 1936

1   At the end of section 177EB

Add:

Section to apply to exempting credits

(11) This section applies to exempting credits arising in the exempting account of the head company of a consolidated group in the same way that it applies to credits arising in the head company's franking account.