INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 214 - Administering the imputation system  

Subdivision 214-A - Franking returns  

Operative provisions

SECTION 214-25   Content and form of a franking return  

214-25(1)  
A *corporate tax entity must include the following information in its *franking return for an income year:


(a) if the entity is a *franking entity at the end of the income year - its *franking account balance at the end of the income year; and


(b) if the entity ceased to be a franking entity during the income year - its franking account balance immediately before it ceased to be a franking entity; and


(c) if the entity is a *PDF at the end of the income year - its *venture capital sub-account balance at the end of the income year; and


(d) if the entity ceased to be a PDF during the income year - its venture capital sub-account balance immediately before it ceased to be a PDF; and


(e) the amounts (if any) of *franking tax which the entity is liable to pay because of events that have occurred, or are taken to have occurred, during the income year; and


(f) any other information required by the Commissioner for the purposes of administering this Part.

214-25(2)  


The return must be in the *approved form.

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