INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 709 - Other rules applying when entities become subsidiary members etc.  

Subdivision 709-A - Franking accounts  

Treatment of subsidiary member's franking account

SECTION 709-65   709-65   Subsidiary member ' s franking account does not operate  


The * franking account of an entity that is a * subsidiary member of a * consolidated group does not operate during the period:


(a) beginning just after the entity becomes a subsidiary member of the group; and


(b) ending when the entity ceases to be a subsidiary member of the group.


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