Income Tax Assessment Act 1997
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Hide history noteSECTION 202-55 202-55 What is the maximum franking credit for a frankable distribution?
The maximum franking credit for a distribution is equivalent to the maximum amount of income tax that the entity making the distribution could have paid, at the entity ' s corporate tax rate for imputation purposes for the income year in which the distribution is made, on the profits underlying the distribution.
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