Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p24
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 57575–60202

an original company tax assessment for
the year of income is served, or deemed to be served, on the company;
there arises, on the day on which the notice is served or deemed to be served,
a class A franking credit of the company equal to the amount of the class A
franking debit.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 60
Under-franking

  60. Section 160APX of the Principal Act is amended:
  (a) by inserting in paragraphs (1)(a) and (b) "class A" before "required
franking amount";
  (b) by inserting in paragraph (1)(b) "class A" before "franked amount";
  (c) by inserting in subsection (1) "class A" before "franking debit";
  (d) by inserting after subsection (1) the following subsection:
  "(1A) If:
  (a) the class B required franking amount for a frankable dividend paid by a
company on a particular day is not less than 10% of the amount of the
dividend; and
  (b) that class B required franking amount exceeds the class B franked amount
of the dividend;
there arises on that day a class B franking debit of the company equal to the
excess referred in to paragraph (b).".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 61
Excessive reduction in section 160APX debit

  61. Section 160APXA of the Principal Act is amended:
  (a) by inserting in paragraph (1)(a) "class A" before "franking debit";
  (b) by inserting in subsection (1) "class A" before "franking debit is to
arise";
  (c) by inserting in subsection (2) "class A" before "franking debit".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 62
Refunds in respect of initial payment of tax by a company

  62. Section 160APYB of the Principal Act is amended by omitting all the
words after "receives the amount," and substituting the following words and
paragraphs:
  "whichever of the following is applicable:
  (a) if the refund is in respect of the 1992-93 year of income or an earlier
year of income-a class A franking debit of the company equal to the adjusted
amount in relation to the amount received;
  (b) if the refund is in respect of the 1993-94 year of income or a later
year of income-a class B franking debit of the company equal to the adjusted
amount in relation to the amount received.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 63
Refunds of company tax

  63. Section 160APYBA of the Principal Act is amended by omitting all the
words after "as the case may be," (last occurring) and substituting the
following words and paragraphs:
  "whichever of the following is applicable:
  (d) if the payment mentioned in paragraph (a) is in respect of the 1992-93
year of