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 B   Amendments of the Principal Act

82   How to work out the required franking amount

Section 160AQE of the Principal Act is amended by adding at the end the following subsection:

"(6) In this section:

'franking surplus', in relation to a company at a particular time, means the sum of:

(a) the class A franking surplus (if any) of the company as at that time; and

(b) the class B franking surplus (if any) of the company as at that time.".