Document ID: chunk:federal_register_of_legislation:C2004A00975:clause:1_8
Version: federal_register_of_legislation:C2004A00975
Segment Type: clause
Provision Reference: sch 1 cl 8
Character Range: 64363–65565

8                               the entity is taken to have paid a dividend for the purposes of the Income Tax Assessment Act 1936 in an income year under Division 7A of Part III of that Act  an amount equal to the debit that would have arisen if:                                                                                                                                                                                                      on the last day of the income year
                                                                                                                                                                                                (a) the dividend that the entity is taken to have paid were a *frankable distribution; and
                                                                                                                                                                                                (b) the distribution were *franked at the entity's *benchmark franking percentage for the *franking period in which the debit arises or, if the entity does not have a benchmark franking percentage for the period, at a *franking percentage of 100%