INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

SECTION 203-5   Benchmark rule  

203-5(1)  
A corporate tax entity must frank all frankable distributions made within a particular period at a franking percentage set as the benchmark for that period. This is the benchmark rule.

203-5(2)  
The benchmark rule does not apply to some corporate tax entities. Those entities are identified in section 203-20 .


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