INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 13 - Transitional provisions arising from the introduction of class C franking credits and class C franking debits  

SECTION 160ASF   CLASS C CONVERSION TIME OF A COMPANY  

160ASF(1)   [Class C conversion time]  

The class C conversion time of a company is the earliest of the following times:


(a) the time when the first class C franking credit of the company arises;


(b) the time immediately before the end of the 1995-96 franking year of the company;


(c) the nominated class C conversion time (see subsection (2)).

160ASF(2)   [Nominated class C conversion time]  

A company may, at any time before the earlier of the times mentioned in paragraphs (1)(a) and (b), make an irrevocable written election that that time, or a time that is after that time, is that company's nominated class C conversion time .


 

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