Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:16_46aa
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 16 cl 46AA
Character Range: 232219–232841

46AA  Sections 46 and 46A do not apply to the franked part of dividends paid after 30 June 2002

 (1) Sections 46 and 46A do not apply to the franked part of a dividend paid to a taxpayer after 30 June 2002.

 (2) The franked part of a dividend paid after 30 June 2002 is that part of the dividend that is equal to the amount worked out using the following formula:
where:

corporate tax rate has the same meaning as in the Income Tax Assessment Act 1997.

franking credit on the dividend means the amount of the franking credit on the dividend, worked out under Subdivision 202‑D of the Income Tax Assessment Act 1997.