Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p18
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
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Character Range: 42856–45471

AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 45
Final payment of tax

  45. Section 160APMC of the Principal Act is amended by omitting 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 credit of the company equal to the adjusted
amount in relation to the amount of that payment;
  (b) if the year of income is the 1993-94 year of income or a later year of
income-a class B franking credit of the company equal to the adjusted amount
in relation to the amount of that payment.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 46
Payments of tax made after the final payment of tax

  46. Section 160APMD of the Principal Act is amended by omitting all the
words after "that payment is made," and substituting the following words and
paragraphs:
  "whichever of the following is applicable:
  (c) if the year of income is the 1992-93 year of income or an earlier year
of income-a class A franking credit of the company equal to the adjusted
amount in relation to the amount of that payment;
  (d) if the year of income is the 1993-94 year of income or a later year of
income-a class B franking credit of the company equal to the adjusted amount
in relation to the amount of that payment.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 47
Receipt of franked dividends

  47. Section 160APP of the Principal Act is amended:
  (a) by inserting in paragraph (1)(a) "class A" before "franked";
  (b) by inserting in subsection (1) "class A" before "franking credit";
  (c) by inserting in subsection (1) "class A" before "franked amount";
  (d) by inserting after subsection (1) the following subsection:
  "(1A) Subject to this section, if:
  (a) on a particular day, a class B franked dividend is paid to a shareholder
being a company; and
  (b) the company is a resident at the time the dividend is paid;
there arises on that day a class B franking credit of the company equal to the
class B franked amount of the dividend.";
  (e) by inserting in subsection (3) "arising under subsection (1) or (1A)"
after "franking credit" (first occurring);
  (f) by omitting "subsection (1)" from the definition of the component "FC"
in subsection (3) and substituting "whichever of subsections (1) and (1A) is
applicable";
  (g) by inserting in subsection (5) "arising under subsection (1) or (1A)"
after "franking credit".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 48
Receipt of franked