Document ID: chunk:federal_register_of_legislation:C2010C00686:clause:3_4
Version: federal_register_of_legislation:C2010C00686
Segment Type: clause
Provision Reference: sch 3 cl 4
Character Range: 30859–31642

4  After Division 216
Insert:

Division 218—Application of imputation rules to co‑operative companies

218‑5  Application of imputation rules to co‑operative companies

 (1) The *imputation system applies to a *co‑operative company in the same way as it applies to any other company but with the modifications set out in this section.

 (2) Each reference to a *distribution is taken to include a reference to an amount distributed as mentioned in paragraph 120(1)(a) or (b) of the Income Tax Assessment Act 1936.

 (3) Despite subsection 202‑75(1) (about giving distribution statements), a *co‑operative company does not have to give the recipient of a *frankable distribution a *distribution statement unless the *franking percentage for the distribution is greater than zero.