Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_160apybab
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 160APYBAB
Character Range: 227053–227624

160APYBAB  PAYG rate variation credits

 (1) If, on a particular day, a company claims a PAYG rate variation credit in respect of a year of income under section 45‑215 in Schedule 1 to the Taxation Administration Act 1953, there arises on that day a class C franking debit of the company.

 (2) The class C franking debit is equal to the adjusted amount in relation to the amount of the PAYG rate variation credit.

 (3) This section does not apply if the company is a life assurance company.

Note: For the treatment of life assurance companies, see section 160AQCNCE.