Document ID: chunk:federal_register_of_legislation:C2004A00986:clause:1_160aug
Version: federal_register_of_legislation:C2004A00986
Segment Type: clause
Provision Reference: sch 1 cl 160AUG
Character Range: 46747–47390

160AUG  Modifying the operation of subsection 160AQE(3)

When this section applies

 (1) This section deals with the situation in which:
 (a) subsection 160AQE(3) is applied to work out the provisional required franking amount for a dividend (the current dividend) paid on or after 1 July 2001; and
 (b) the earlier franked dividend referred to in that subsection was paid before 1 July 2001.

Effect on required franking amount

 (2) The component EFA in the formula in subsection 160AQE(3) is worked out using the following formula:
where:

class C franked amount is the amount that is the class C franked amount of the earlier dividend.