Document ID: chunk:federal_register_of_legislation:C2012C00388:clause:4_2:p4
Version: federal_register_of_legislation:C2012C00388
Segment Type: clause
Provision Reference: sch 4 cl 2 (pt 4/4)
Character Range: 41739–42839

effect in relation to each old Division 7B tainting amount component as if the reference to the amount of the franking debit that arose under section 197‑45 in relation to the transferred amount were instead a reference to the tax‑paid‑basis franking debit amount in relation to the old Division 7B tainting amount component.

 (10) For the purpose of the notionally substituted paragraph, and of subsection (9) of this section, the tax‑paid‑basis franking debit amount, in relation to an old Division 7B tainting amount component, is the amount worked out in accordance with the formula:
where:

class A franking debit means the class A franking debit (if any) that arose under section 160ARDV of old Division 7B in relation to the old Division 7B tainting amount component.

class C franking debit means the class C franking debit that arose under section 160ARDQ or 160ARDV of old Division 7B in relation to the old Division 7B tainting amount component.

Part 2—Consequential amendments relating to rewritten share capital tainting rules

Division 1—Amendments

Income Tax Assessment Act 1936