Income Tax Assessment Act 1997
So much of the *unfranked part of a *frankable distribution made by an *Australian corporate tax entity that the entity declares, in its *distribution statement, to be *conduit foreign income:
(a) is not assessable income and is not *exempt income of a foreign resident; and
(b) is an amount to which section 128B (Liability to withholding tax) of the Income Tax Assessment Act 1936 does not apply. 802-15(2)
The declaration must be made on or before the day on which the *distribution is made.
For a private company, this rule may bring forward the time at which the company is required to make its distribution statement: see section 202-75 .
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