Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:5_3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 5 cl 3
Character Range: 66202–66881

3  At the end of Subdivision 709‑A
Add:

709‑90  Subsidiary member's distributions to foreign resident taken to be distributions by head company

  Part 3‑6 operates as if a *frankable distribution made by a *subsidiary member of a *consolidated group (the foreign‑held subsidiary) were a frankable distribution made by the *head company of the group to a *member of the head company if:
 (a) the foreign‑held subsidiary meets the set of requirements in section 703‑45, section 701C‑10 of the Income Tax (Transitional Provisions) Act 1997 or section 701C‑15 of that Act; and
 (b) the frankable distribution is made to a foreign resident.

Note: Part 3‑6 deals with imputation.