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

99   Part-year assessment

Section 160ARJ of the Principal Act is amended:

(a) by inserting in subsection (1) "class A" before "franking" (first, 3rd and 4th occurring);
        

(b) by inserting after subsection (1) the following subsection:
        

"(1A) The Commissioner may at any time make an assessment of the class B franking account balance of a company at a particular time during a franking year and, if the company has a class B franking deficit at that time, of the class B franking deficit tax payable by the company.";

(c) by inserting in subsection (2) "or (1A)" after "(1)".