Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p26
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 62352–64993

applicable:
  (c) if the year of income is the 1992-93 year of income or an earlier year
of income-a class A franking debit of the company equal to the adjusted amount
in relation to the amount of the reduction;
  (d) if the year of income is the 1993-94 year of income or a later year of
income-a class B franking debit of the company equal to the adjusted amount in
relation to the amount of the reduction.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 67
Payment of franked dividends

  67. Section 160AQB of the Principal Act is amended:
  (a) by inserting "class A" before "franked" (wherever occurring);
  (b) by inserting "class A" before "franking";
  (c) by adding at the end the following subsection:
  "(2) If, on a particular day, a company pays a class B franked dividend,
there arises on that day a class B franking debit of the company equal to the
class B franked amount of the dividend.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 68
Estimated debit determination

  68. Section 160AQC of the Principal Act is amended:
  (a) by inserting "class A" after "estimated" (wherever occurring);
  (b) by inserting "class A" before "franking debit";
  (c) by adding at the end the following subsection:
  "(2) If, on a particular day, the Commissioner serves on a company notice of
an estimated class B debit determination, there arises on that day a class B
franking debit of the company equal to the estimated class B debit specified
in the notice.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 69
Transfer of asset to insurance funds

  69. Section 160AQCA of the Principal Act is amended:
  (a) by inserting "class A" before "franking" (wherever occurring);
  (b) by inserting in subparagraphs (b)(i) and (ii) "subsection (1) of" before
"that section";
  (c) by adding at the end the following subsection:
  "(2) If:
  (a) a class B franking credit of a life assurance company arose under
section 160APP or 160APQ at a particular time during a year of income of the
company; and
  (b) after that time and during the year of income:
    (i) if section 160APP applied-the asset of the company from which
the dividend referred to in subsection (1A) of that section was derived; or
    (ii) if section 160APQ applied-the asset of the company to which the
trust amount or partnership amount referred to in subsection (1A) of that
section is attributable;
becomes part of the insurance funds of the company;
there arises, on the day on which the asset becomes part of the insurance
funds, a class B franking debit of the company equal to the class B franking
credit.".

TAXATION