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  

Operative provisions

SECTION 202-65   202-65   Where the franking credit stated in the distribution statement exceeds the maximum franking credit for the distribution  


If the amount of a *franking credit stated in a *distribution statement for a *distribution exceeds the *maximum franking credit for the distribution, the amount of the franking credit on the distribution is taken to be the amount of the maximum franking credit for the distribution, and not the amount stated in the distribution statement.

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