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%.