INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 214 - Administering the imputation system  

SECTION 214-120   214-120   Record keeping  


Section 262A of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if:


(a) the reference in that section to a person carrying on a business were a reference to a corporate tax entity; and


(b) the reference in paragraph (2)(a) of that section to the person ' s income and expenditure were a reference to:


(i) the entity ' s franking account balance; and

(ii) the entity ' s liability to pay franking tax; and


(c) paragraph (5)(a) of that section were omitted.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.