Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p20
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 47737–50424

amended by omitting all the
words after "on that day" 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 51
Lapsing of estimated debit

  51. Section 160APU of the Principal Act is amended:
  (a) by inserting "class A" after "estimated" (wherever occurring);
  (b) by inserting "class A" before "franking";
  (c) by adding at the end the following subsection:
  "(2) On the day on which the termination time in relation to an estimated
class B debit of a company occurs, there arises a class B franking credit of
the company equal to the estimated class B debit.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 52
Substituted estimated debit determination

  52. Section 160APV of the Principal Act is amended:
  (a) by inserting "class A" after "estimated";
  (b) by inserting "class A" before "franking" (wherever occurring);
  (c) by adding at the end the following subsection:
  "(2) If, on a particular day, the Commissioner serves on a company a notice
of an estimated class B debit determination that is in substitution for an
earlier determination, there arises on that day a class B franking credit of
the company equal to the amount of the class B franking debit that arose
because of the earlier determination.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 53
Life assurance companies-credit reducing section 160APYBA debit

  53. Section 160APVBA of the Principal Act is amended:
  (a) by omitting from subsection (1) 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 worked out under subsection
(2) of this section;
  (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 worked out under subsection
(2) of this section.";
  (b) by omitting from subsection (2) "0.8" and substituting "Statutory
factor";
  (c) by inserting the following definition in subsection (2) (before the
existing definitions):
  " 'Statutory factor' means:
  (a) in the case of a