Document ID: chunk:federal_register_of_legislation:C2010C00617:clause:5_160apvi
Version: federal_register_of_legislation:C2010C00617
Segment Type: clause
Provision Reference: sch 5 cl 160APVI
Character Range: 65483–66023

160APVI  Credit for PDF when it pays venture capital deficit tax

 (1) There arises, on the day on which a PDF pays venture capital deficit tax for a franking year, a class C franking credit equal to the adjusted amount in relation to:
 (a) the amount paid; or
 (b) if the amount paid was calculated under subsection 5(2) of the Venture Capital Deficit Tax Act—the amount worked out using the formula:

 (2) The credit under subsection (1) is reduced by the amount (if any) of the class C franking deficit at the end of the franking year.