INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 202 - Franking a distribution  

Subdivision 202-D - Amount of the franking credit on a distribution  

Guide to Subdivision 202-D

SECTION 202-55   202-55   What is the maximum franking credit for a frankable distribution?  


The maximum franking credit for a distribution is equivalent to the maximum amount of income tax that the entity making the distribution could have paid, at the entity ' s corporate tax rate for imputation purposes for the income year in which the distribution is made, on the profits underlying the distribution.

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