Tax Laws Amendment (2004 Measures No. 1) Act 2004 (95 of 2004)
Schedule 9 Deductions for dividends on-paid to non-resident owners
Income Tax Assessment Act 1936
6 Subsection 46FA(11) (definition of unfranked amount )
Repeal the definition, substitute:
unfranked amount of a dividend (including an unfrankable distribution within the meaning of section 202-45 of the Income Tax Assessment Act 1997) means the amount of the dividend less the franked part.