INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

SECTION 203-1   203-1   Franking periods straddling 1 July 2002  


Where, but for this section, 1 July 2002 would fall within a franking period for a corporate tax entity, but would not be the first day of the franking period, the franking period:


(a) is taken to begin at the start of 1 July 2002; and


(b) is taken to end when it would otherwise have ended.




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