Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p28
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 67261–70092

the following formula:
     Linked dividend  X   Substituted class A franking percentage
where:
  'Linked dividend' means the amount of the linked dividend;
  'Substituted class A franking percentage' means the actual or proposed class
A franking percentage, or the greatest actual or proposed class A franking
percentage, of the substituted dividends; and
  (d) a class B franking debit of the debit company equal to the amount worked
out using the following formula:
     Linked dividend  X   Substituted class B franking percentage
where:
  'Linked dividend' means the amount of the linked dividend;
  'Substituted class B franking percentage' means the actual or proposed class
B franking percentage, or the greatest actual or proposed class B franking
percentage, of the substituted dividends.";
  (d) by inserting in subsection (4) "class B" before "franking debit".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 71
On-market share buy-back arrangements

  71. Section 160AQCC of the Principal Act is amended:
  (a) by inserting in subsection (1) "class A" before "franking debit";
  (b) by inserting in subsection (1) "(if any)" after "the amount";
  (c) by inserting in subsection (2) "class A" before "required franking
amount";
  (d) by omitting from subsection (2) "160AQE(1)" and substituting
"160AQDB(1)";
  (e) by adding at the end the following subsections:
  "(3) There arises on the day of an on-market purchase by a company of a
share a class B franking debit of the company equal to the amount calculated
under subsection (4).
  "(4) The amount is the amount that would be calculated under subsection
160AQDB(2) as the class B required franking amount for a dividend paid on that
day to a shareholder in the company if that and any other on-market purchase
by the company had been an off-market purchase.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 72
Life assurance companies-debit reducing section 160APMA credit

  72. Section 160AQCD of the Principal Act is amended:
  (a) by omitting from subsection (1) all the words after "on that day" and
substituting the following words and paragraphs:
  "whichever of the following is applicable:
  (a) if the year of income is the 1992-93 year of income or an earlier year
of income-a class A franking debit of the company worked out under subsection
(2) of this section;
  (b) if the year of income is the 1993-94 year of income or a later year of
income-a class B franking debit of the company worked out under subsection (2)
of this section.";
  (b) by omitting from subsection (2) "0.8" and substituting "Statutory
factor";
  (c) by inserting the following definition in subsection (2) (before the
existing definitions):
  " 'Statutory factor' means:
  (a) in the case of a class A franking debit-0.8; or
  (b) in the case of a