Document ID: chunk:federal_register_of_legislation:C2025C00029:section:11:p60
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 11 (pt 60/64)
Character Range: 3451995–3454890

if the specified *distribution has been *franked—the difference between the amount of the *franking credit on the distribution and an amount worked out by multiplying the amount of the distribution by the highest *franking percentage at which a distribution to a favoured member is franked; or
 (b) if the specified distribution, although *frankable, has not been franked—an amount worked out by multiplying the amount of the distribution by the highest franking percentage at which a distribution to a favoured member is franked; or
 (c) if the specified distribution is *unfrankable—an amount worked out by multiplying the amount of the distribution by the highest franking percentage at which a distribution to a favoured member is franked; or
 (d) if the specified benefit is the issue of bonus shares from a share premium account—an amount worked out by multiplying the amount debited to the share premium account in respect of the bonus shares by the highest franking percentage at which a distribution to a favoured member is franked; or
 (e) if some other benefit is specified—an amount worked out by multiplying the value of the benefit by the highest franking percentage at which a distribution to a favoured member is franked.
 (2) In specifying the *franking debit, the Commissioner must have regard to:
 (a) any *franking debit already arising in the *franking account of the entity under paragraph 203‑50(1)(b) because the entity franked the specified *distribution in breach of the *benchmark rule; and
 (b) any franking debit already arising in the franking account of the entity, because of the specified distribution or benefit, under section 204‑15 (about linked distributions) or section 204‑25 (about substituting *tax‑exempt bonus shares for *franked distributions).

204‑41  Amount of the exempting debit
  The amount of the *exempting debit arising because of a determination by the Commissioner under paragraph 204‑30(3)(b) must not exceed:
 (a) if the specified *distribution has been *franked with an exempting credit—the difference between the amount of the *exempting credit on the distribution and an amount worked out by multiplying the amount of the distribution by the highest *exempting percentage at which a distribution to a favoured member is franked; or
 (b) if the specified distribution, although *frankable, has not been franked with an exempting credit—an amount worked out by multiplying the amount of the distribution by the highest exempting percentage at which a distribution to a favoured member is franked; or
 (c) if the specified distribution is *unfrankable—an amount worked out by multiplying the amount of the distribution by the highest exempting percentage at which a distribution to a favoured member is franked; or
 (d) if the specified benefit is the issue of bonus shares from a share premium account—an amount worked out by multiplying