Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 208-60 208-60 Franking with an exempting credit
An entity franks a *distribution with an exempting credit if:
(a) the entity is a *former exempting entity when the distribution is made; and
(b) the entity is a *franking entity that satisfies the *residency requirement when the distribution is made; and
(c) the distribution is a *frankable distribution; and
(d) the entity allocates an *exempting credit to the distribution.
Note:
The residency requirement for an entity making a distribution is set out in section 202-20 .
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