Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

SECTION 203-10   Benchmark franking percentage  

203-10(1)  
The benchmark franking percentage for an entity is set by reference to the franking percentage for the first frankable distribution made by the entity during the relevant period.

203-10(2)  
An entity has a benchmark franking percentage, even if it is not subject to the benchmark rule.


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