Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3
Character Range: 3752460–3753663

3                                        the company *receives a *tax offset refund; and                                                                        the lesser of:                                                                                      on the day on which the refund is received
                                         the company does not satisfy the *residency requirement for the income year to which the refund relates; and           (a) that part of the refund that is attributable to:
                                         the company was a *franking entity for the whole or part of that income year; and                                      (i) the *shareholders' share of the *income tax liability of the company for that income year; and
                                         the company's *franking account is in *surplus on the day on which the refund is received                              (ii) the period during which the company was a franking entity; and
                                                                                                                                                                (b) the amount of the *franking surplus