Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p12
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 27862–30645

payment of a refund to a company in respect of a
year of income under Division 1C of Part VI;
    (iad) the payment of a refund to a company of an amount
paid by the company in respect of a year of income where the
refund is covered by section 160APY or 160APYA;
    (iae) the crediting by the Commissioner of an amount paid
by a company in respect of a year of income where the crediting
is covered by section 160APYA;".
  24. Section 160APA (paragraph (b) of the definition of
"applicable general company tax rate"):
Omit "for a franking year", substitute "or class A deficit
deferral tax".
  25. Section 160APA (paragraph (ba) of the definition of
"applicable general company tax rate"):
Omit "for a franking year", substitute "or class B deficit
deferral tax".
  26. Section 160APA (definition of "franking assessment"):
Add at the end:
  "or (c) a deficit deferral tax assessment;".
  27. Section 160APA (after paragraph (a) of the definition of
"termination time"):
Insert:
  "(aa) in relation to the payment of a company tax instalment
in respect of a year of income - the earlier of:
    (i) the time at which the company receives an amount as a
refund of that payment under section 221AZL or 221AZQ; and
    (ii) whichever of the following is applicable:
      (A) if the company is required to make a payment under
section 221AZT in respect of the year of income - the day on
which that payment is made;
      (B) in any other case - the day that would have been
applicable under paragraph 166A(2)(b) if the company had been
required to make such a payment under section 221AZT; or".
  28. Section 160APA (sub-subparagraph (b)(ii)(B) of the
definition of "termination time"):
Omit "166A(a)(i)", substitute "166A(1)(a)(i)".
  29. Section 160APA (paragraph (c) of the definition of
"termination time"):
After "paragraph (a)", insert ", (aa)".
  30. Section 160APA:
Insert:
"'class A deficit deferral tax' means tax payable in accordance
with section 160AQJA;
  'class B deficit deferral tax' means tax payable in
accordance with section 160AQJB;
  'company tax instalment' means an instalment, or other
amount, payable under Division 1C of Part VI;
  'deficit deferral amount' means a class A deficit deferral
amount (see subsection 160AQJA(2)) or a class B deficit
deferral amount (see subsection 160AQJB(2));
  'deficit deferral tax' means class A deficit deferral tax or
class B deficit deferral tax;
  'deficit deferral tax assessment' means the ascertainment,
under section 160ARHA or 160ARK, of deficit deferral tax
payable by a company;".
  31. After section 160APL:
Insert:
Payment of company tax instalment
  "160APM. If a company tax instalment payable by a company
under section 221AZK is paid on a particular day, a class B
franking credit of the company equal to