Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 208 - Exempting entities and former exempting entities  

Subdivision 208-F - Exempting accounts and franking accounts of exempting entities and former exempting entities  

SECTION 208-105   What this Subdivision is about  


This Subdivision:

  • · creates an exempting account for each former exempting entity; and
  • · identifies when exempting credits and debits arise in those accounts and the amount of those credits and debits; and
  • · identifies when there is an exempting surplus or deficit in the account; and
  • · identifies when franking credits and debits arise in the franking account of an entity because it is an exempting entity, or former exempting entity.

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