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-C - Amount of the exempting credit on a distribution
SECTION 208-65 What this Subdivision is about
The amount of the exempting credit on a distribution is that stated in the distribution statement, unless the amount stated exceeds the maximum franking credit for the distribution. In that case, it is nil.