Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p20
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 20/20)
Character Range: 3736800–3739457

companies

218‑5  Application of imputation rules to co‑operative companies
 (1) The *imputation system applies to a *co‑operative company in the same way as it applies to any other company but with the modifications set out in this section.
 (2) Each reference to a *distribution is taken to include a reference to an amount distributed as mentioned in paragraph 120(1)(a) or (b) of the Income Tax Assessment Act 1936.
 (3) Despite subsection 202‑75(1) (about giving distribution statements), a *co‑operative company does not have to give the recipient of a *frankable distribution a *distribution statement unless the *franking percentage for the distribution is greater than zero.

Division 219—Imputation for life insurance companies

Table of Subdivisions
 Guide to Division 219
219‑A Application of imputation rules to life insurance companies
219‑B Franking accounts of life insurance companies

Guide to Division 219

219‑1  What this Division is about
      This Division sets out how the imputation rules are applied to a life insurance company.

Subdivision 219‑A—Application of imputation rules to life insurance companies

Table of sections
219‑10 Application of imputation rules to life insurance companies

219‑10  Application of imputation rules to life insurance companies
 (1) This Part (except this Division) applies to a *life insurance company in the same way as it applies to any other company.
 (2) However, that application is subject to the modifications set out in this Division.

Subdivision 219‑B—Franking accounts of life insurance companies

Table of sections
219‑15 Franking credits
219‑30 Franking debits
219‑40 Residency requirement
219‑45 Assessment day
219‑50 Amount attributable to shareholders' share of income tax liability
219‑55 Adjustment resulting from an amended assessment
219‑70 Tax offset under section 205‑70
219‑75 Working out franking credits and franking debits where a tax offset under section 205‑70 is applied

219‑15  Franking credits
 (1) The table in section 205‑15 does not apply to a *life insurance company.
 (2) The following table sets out when a *franking credit arises under this section in the *franking account of a *life insurance company.

Franking credits in the franking account
Item                                      If:                                                                                                                                                                                                               A credit of:                                                                                                                                      Arises: