Taxation Laws Amendment Act (No. 3) 1993 (118 of 1993)

Part 4   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 9   Amendments relating to dividend imputation

Subdivision C   Application and transitional provisions

110   Transitional-carry forward of franking surplus from 1993-94

For the purposes of Part IIIAA of the amended Act, if a company had a franking surplus at the end of the company's 1993-94 franking year, there arises at the beginning of the company's 1994-95 franking year a class A franking credit of the company equal to that franking surplus.