Document ID: chunk:federal_register_of_legislation:C2004A00898:clause:1_160apaaab:p3
Version: federal_register_of_legislation:C2004A00898
Segment Type: clause
Provision Reference: sch 1 cl 160APAAAB (pt 3/3)
Character Range: 113660–115099

to the available frankable profits were a reference to the amount worked out using the formula:
 (d) the reference to the amount of the frankable non‑share dividend in paragraph (b) of the definition of adjusted expected profits in subsection (7) were a reference to the sum of the amounts of the frankable non‑share dividends; and
 (e) the reference in paragraph (9)(b) to the franked amount of the non‑share dividend were a reference to the sum of the franked amounts of the non‑share dividends.

 (12) A company's available frankable profits at a particular time in relation to a non‑share dividend is the amount worked out using the formula:
where:

committed share dividends means the amount of share dividends the company will make at that time, or after that time, if the company has announced their payment, or is committed or has resolved (formally or informally) to pay them.

maximum frankable amount means the maximum amount of frankable share dividends that the company could pay at that time having regard to its available profits at that time.

undebited non‑share dividends means the sum of the franked amounts of the non‑share dividends that:
 (a) were not debited to available profits; and
 (b) were paid within the preceding 2 franking years or were paid under the same scheme under which the company pays the non‑share dividend.

 (13) In this section:

share dividend means a dividend that is not a non‑share dividend.