INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteIf a company receives an amount as a refund under subsection 221AZL(2) or 221AZQ (1):
(a) if the refund is in respect of the 1994-95 year of income - a class B franking debit of the company equal to the adjusted amount in relation to the amount received arises on the day on which the company receives the amount; or
(b) if the refund is in respect of the 1995-96 year of income or a later year of income - a class C franking debit of the company equal to the adjusted amount in relation to the amount received arises on the day on which the company receives the amount.
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