Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_160apmg
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 160APMG
Character Range: 225781–226261

160APMG  Franking credits for payments of company tax

 (1) If a company pays company tax in respect of a year of income on a particular day, there arises on that day a class C franking credit of the company.

 (2) The class C franking credit is equal to the adjusted amount in relation to the amount of the company tax paid.

 (3) This section does not apply if the company is a life assurance company.

Note: For the treatment of life assurance companies, see section 160APVM.