INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 207 - Effect of receiving a franked distribution  

Subdivision 207-A - Effect of receiving a franked distribution generally  

SECTION 207-10   What this Subdivision is about  


As a general rule, if a member of an entity receives a franked distribution:

  • · an amount equal to the franking credit on the distribution is included in the member ' s assessable income; and
  • · the member is entitled to a tax offset equal to the franking credit on the distribution.

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