Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:29_177ea:p6
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 29 cl 177EA (pt 6/6)
Character Range: 452275–453282

Division 207 of the Income Tax Assessment Act 1997 because of the distribution; or
 (c) the amount of income tax that would be payable by the entity because of the distribution is less than the tax offset to which the entity would be entitled; or
 (d) the entity is a corporate tax entity at the time the distribution is made, but no franking credit arises for the entity as a result of the distribution; or
 (e) the entity is a corporate tax entity at the time the distribution is made, but cannot use franking credits received on the distribution to frank distributions to its own members because:
 (i) it is not a franking entity; or
 (ii) it is unable to make frankable distributions.

Note: Where the distribution is made directly to the taxpayer, see subsections 204‑30(7), (8), (9) and (10) of the Income Tax Assessment Act 1997 for a list of circumstances in which the taxpayer will be treated as deriving a greater benefit from franking credits than another entity.

Income Tax Assessment Act 1997