Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

Operative provisions  

SECTION 203-40   Franking periods - where the entity is not a private company  

203-40(1)  
Use this section to work out the franking periods for an entity in an income year where the entity is not a *private company for the income year.

203-40(2)  
If the entity ' s income year is a period of 12 months, each of the following is a franking period for the entity in that year:


(a) the period of 6 months beginning at the start of the entity ' s income year;


(b) the remainder of the income year.

203-40(3)  
If the entity ' s income year is a period of 6 months or less, the franking period for the entity in that year is the same as the income year.

203-40(4)  
If the entity ' s income year is a period of more than 6 months and less than 12 months, each of the following is a franking period for the entity in that year:


(a) the period of 6 months beginning at the start of the entity ' s income year;


(b) the remainder of the income year.

203-40(5)  
If the entity ' s income year is a period of more than 12 months, each of the following is a franking period for the entity in that year:


(a) the period of 6 months beginning at the start of the entity ' s income year (the first franking period );


(b) the period of 6 months beginning immediately after the end of the first franking period;


(c) the remainder of the income year.


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