Document ID: chunk:federal_register_of_legislation:C2010C00617:clause:5_32
Version: federal_register_of_legislation:C2010C00617
Segment Type: clause
Provision Reference: sch 5 cl 32
Character Range: 68587–69213

32  At the end of section 160AQT
Add:

 (6) For the purposes of this section, if:
 (a) because of subsection 124ZM(3), an amount of a dividend paid to a shareholder by a company is not exempt income of the shareholder under paragraph 124ZM(1C)(b) or 124ZM(1D)(b); and
 (b) the dividend is not otherwise exempt income of the shareholder;
then:
 (c) the dividend is taken not to be exempt income of the shareholder; and
 (d) subsections (1AB) and (1C) apply to the dividend as if references to the franked amount of the dividend in those subsections were references to the remaining franked amount as defined in section 124ZM.