Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)
Schedule 10 Franked distributions received through certain partnerships and trustees
Part 4 Other amendments
Income Tax Assessment Act 1997
42 Subsection 220-410(2)
Repeal the subsection (including the note), substitute:
(2) The following provisions have effect subject to this section:
(a) items 3 and 4 of the table in section 205-15;
(b) items 5 and 6 of the table in section 219-15.
Note: Each of those items gives rise to a franking credit for a franked distribution if the recipient is entitled under Division 207 to a tax offset for the distribution. Those items provide that the amount of the credit equals the amount of that offset.