Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_160apybaa
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 160APYBAA
Character Range: 226298–227053

160APYBAA  Refunds for 2000‑01 year of income and later years of income

 (1) If:
 (a) a class C franking credit of a company arises under section 160APME, 160APMF or 160APMG in respect of a PAYG instalment or company tax; and
 (b) on a particular day, the company receives a refund of the PAYG instalment or the company tax; and
 (c) the amount refunded is not attributable to a reduction of company tax covered by section 160APZ;
a class C franking debit of the company arises on that day.

 (2) The class C franking debit is equal to the adjusted amount in relation to the amount of the refund.

 (3) This section does not apply if the company is a life assurance company.

Note: For the treatment of life assurance companies, see section 160AQCNCD.