Document ID: chunk:federal_register_of_legislation:C2010C00617:clause:3_160ath
Version: federal_register_of_legislation:C2010C00617
Segment Type: clause
Provision Reference: sch 3 cl 160ATH
Character Range: 53942–55239

160ATH  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 2000; and
 (b) the earlier franked dividend referred to in that subsection was paid before 1 July 2000.

Effect on required franking amount—companies other than life assurance companies

 (2) If the company is not a life assurance company at the beginning of the reckoning day for the current dividend, 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.

Effect on required franking amount—life assurance companies

 (3) If the company is a life assurance company at the beginning of the reckoning day for the current dividend, the component EFA in the formula in subsection 160AQE(3) is worked out using the following formula:
where:

class A franked amount is the amount (if any) that is the class A franked amount of the earlier dividend.

class C franked amount is the amount (if any) that is the class C franked amount of the earlier dividend.