Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 3 Simplified Imputation System
Part 2 Miscellaneous consequential and technical amendments
Taxation Administration Act 1953
105 Paragraphs 12-165(b) and (c) in Schedule 1
Repeal the paragraphs, substitute:
(b) the payment is a *distribution that has been franked in accordance with section 202-5 of the Income Tax Assessment Act 1997; and
(c) the *franking percentage for the distribution is 100%.