Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p21
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 50274–52924

assessed in relation to a
refund becomes due and payable, or is taken to have become due
and payable,
14 days after the refund is received.".
  58. Subsection 160ARW(1):
Insert ", deficit deferral tax" after "franking deficit tax".
  59. Subsection 160ARXA(1) (definition of "franking tax law"):
After "tax", insert "or deficit deferral tax".
  60. Subsection 160ARXA(1) (definitions of "franking tax
shortfall" and "proper franking tax"):
Omit the definitions, substitute:
  "'franking tax shortfall' means:
  (a) in relation to a company and a franking year:
    (i) the class A franking tax shortfall in relation to the
company and the franking year; or
    (ii) the class B franking tax shortfall in relation to the
company and the franking year; and
  (b) in relation to a company and a refund:
    (i) the class A deficit deferral tax shortfall in relation
to the company and the refund; or
    (ii) the class B deficit deferral tax shortfall in relation
to the company and the refund;
  'proper franking tax' means:
  (a) in relation to a company and a franking year:
    (i) the class A proper franking tax in relation to the
company and the franking year; or
    (ii) the class B proper franking tax in relation to the
company and the franking year; and
  (b) in relation to a company and a refund:
    (i) the proper class A deficit deferral tax in relation to
the company and the refund; or
    (ii) the proper class B deficit deferral tax in relation to
the company and the refund;".
  61. Subsection 160ARXA(1):
Insert:
  "'class A deficit deferral tax shortfall', in relation to a
company and a refund, means any amount by which the company's
class A statement deficit deferral tax for that refund at the
time at which it was lowest is less than the company's class A
proper deficit deferral tax for that refund;
  'class B deficit deferral tax shortfall', in relation to a
company and a refund, means any amount by which the company's
class B statement deficit deferral tax for that refund at the
time at which it was lowest is less than the company's class B
proper deficit deferral tax for that refund;
  'class A proper deficit deferral tax', in relation to a
company and a refund, means the class A deficit deferral tax
properly payable by the company in relation to the refund;
  'class B proper deficit deferral tax', in relation to a
company and a refund, means the class B deficit deferral tax
properly payable by the company in relation to the refund;
  'class A statement deficit deferral tax', in relation to a
company, a refund, and a time, means the class A deficit
deferral tax that would have been payable by the company